It was the international governmental organization the "League of Nations" that the United States declined to join after World War I, since the nation wanted to avoid getting tangled up in any future European wars.
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The Great Recession that began in 2008 actually saw a larger decline of the stock market in the initial fall of stock prices. The Dow Jones Industrial average saw a loss of 54% of its value in a year and a half. In the first year and a half of the Great Depression that began in 1929, the stock market lost 45% of its value. The same thing was true on the worldwide stock market, that the losses in 2008-2009 were steeper than those in following the crash in 1929. Part of the reason for the quicker reaction of world markets in the 21st century version is how much more interconnected global markets had become.
But where the Recession of the early 2000s showed a steep initial decline, the economy also recovered more quickly than had happened during the Depression of the 1930s. In the 1930s, the stock market continued to drop, to eventually lose almost 90% of its prior value. The 54% drop in the market was the low point in 2009, and the market and economy began to stabilize and recover slowly from there. In the 1930s, things went from bad to worse and the pain was deeper, longer.
Disgruntled workers burn Scott’s business down and help to send him to an early grave. So when, in 1881, Carnegie buries his mentor on a rainy day in April, he blames Rockefeller for Scott’s demise and seeks revenge. He’s now producing 10,000 tons of steel a month and making $1.5 million profits per yea
