"Mankind never learns from its mistakes hence history repeats itself" – Bible
The rise and fall of most great empires have striking similarities, and I would like to highlight one such example. The growth of Rome was fueled by increased agricultural productivity, transparent governance on a diligent citizens and strong army. Education system was great, dining and art were at their peak. They accepted other cults and religions; personal and social ethics was at its peak. The empire flourished for two centuries right from Julius to Alexander Severus.
The decline in Roman empire was the systemic economic weakness that crept during the pan romana period (3rd century). First the empire was built upon the labour of the exploited aka slaves. Second, the maintenance costs of the empire were huge and continued to expand all the time. The upholding of the Roman standard of culture meant huge amounts had to be spent to provide an adequate supply of the amenities that were considered essential to the full life or a Roman citizen. The empire had to be policed and the imperial post and the ever expanding army had to maintained.
The empire found itself in a catch-22 situation in which there no solution to the problem. On the one hand there was the ever growing need to maintain the affluent lifestyle and on the other the ever diminishing capacity to carry it through. Taxes were increased and Hardin, then ruler of the empire, started borrowing money through issuance of notes. Historians argue that the enormous borrowing coupled with lack of investments continued for five decades. The eventual explosion of the empire was caused by the lack of circulating currency in the western empire. Two reasons for the lack of funds were the hoarding of bullion by Roman citizens, and the widespread looting of the Roman treasury by the 'barbarians'. These two factors, coupled with the massive trade deficit brought down the once great empire.
The decline in Roman empire was the systemic economic weakness that crept during the pan romana period (3rd century). First the empire was built upon the labour of the exploited aka slaves. Second, the maintenance costs of the empire were huge and continued to expand all the time. The upholding of the Roman standard of culture meant huge amounts had to be spent to provide an adequate supply of the amenities that were considered essential to the full life or a Roman citizen. The empire had to be policed and the imperial post and the ever expanding army had to maintained.
The empire found itself in a catch-22 situation in which there no solution to the problem. On the one hand there was the ever growing need to maintain the affluent lifestyle and on the other the ever diminishing capacity to carry it through. Taxes were increased and Hardin, then ruler of the empire, started borrowing money through issuance of notes. Historians argue that the enormous borrowing coupled with lack of investments continued for five decades. The eventual explosion of the empire was caused by the lack of circulating currency in the western empire. Two reasons for the lack of funds were the hoarding of bullion by Roman citizens, and the widespread looting of the Roman treasury by the 'barbarians'. These two factors, coupled with the massive trade deficit brought down the once great empire.
At the root of every great empire lies an idea. Patliputhra was an idea, Rome was an idea and America was also an idea. The spirit that fuels an idea and creates an empire typically runs out of steam over time. The society increasingly become lethargic, inefficient and complecent laying seeds for its own demise. As bitter as this sounds, we are witnessing an empire falling from a cliff. But a different kind of new world order will emerge. The engine that drives the global economy will be where people are. It will be a bumpy and ugly journey to the new destination. I do hope an eventual destination would be one world with one dream. Empires, countries and states are just imaginary lines drawn on the globe by men hungry for power. The challenges facing humanity today are universal and we need an united world to fulfill those dreams. Unfortunately I do not have a time machine to fast forward. Until then I shall stock up in gold bars, cans of beans and sacks of rice !!
The pride of an empire or ego of an individual will encircle them to make the costlier mistakes by waging war or borrow from wealthier people to remain float and announce the world they are the supreme. When money borrwoed/looted drains, the reality will jump in front of it, with huge laugh...
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