  The first paper in this series took a direct census of energy input from the
known OB stars in the Carina Nebula, and in this paper we study the global
properties of the surrounding nebulosity. We find that the total IR luminosity
of Carina is about 1.2E7 Lsun, accounting for only about 50-60% of the known
stellar luminosity from Paper I. Similarly, the ionizing photon luminosity --
(abridged; many important details omitted). Synchronized star formation around
the periphery of Carina provides a strong case that star formation here was
indeed triggered by stellar winds and UV radiation. This second generation
appears to involve a cascade toward preferentially intermediate- and low-mass
stars, but this may soon change when eta Car and its siblings explode. If the
current reservoir of atomic and molecular gas can be tapped at that time,
massive star formation may be rejuvinated around the periphery of Carina much
as if it were a young version of Gould's Belt. Also, when these multiple SNe
occur, the triggered second generation will be pelted repeatedly with SN ejecta
bearing short-lived radioactive nuclides. Carina may therefore represent the
most observable analog to the cradle of our own Solar System.
