In this view, crony capitalism is the result of an excess of socialist-style interference in the market, which inherently will result in a toxic combination of corporations and government officials running the sector of the economy.
During glacial stages (ice ages), periods of time dominated by colder climate, global sea level was lowered by as much as 200 meters. About 21,000 years ago, during the last glacial maximum (LGM), sea level was about 125 meters (about 410 feet) lower than it is today.
Figure 16.11: Glacial low-stands were characterized by river terraces, land bridges and submarine canyons. Major drops in sea level occurred at least four times during last 2 m.y. with the largest drop 40,000 years ago. 8. Figure 16.10. Worldwide fluctuations in sea level were in response to glacial oscillations.