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In the late 1800s, most Americans accepted laissez faire economics in theory. In practice, however, many supported government involvement when it benefited them.
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As part of the second industrial revolution in the 1800s, other countries surpassed Great Britain in manufacturing.

The period of the Second Industrial Revolution lasted from 1870-1914. During , the Second Industrial Revolution,  the expansion of electricity, petroleum and steel took place. During this period many new products replaced old ones.

For instance,  steel began to replace iron. Besides, the use of electricity  changed how people worked and lived.

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