“Look back over the past, with its changing empires that rose and fell, and you can foresee the future, too.”
– Marcus Aurelius
What Took So Long?
The intricate interplay among monetary, fiscal, economic, political, and military factors forms the backbone of any nation. Central to this tapestry is the state’s relentless pursuit to control and centralize the monetary supply.
In this context, monetary policy frequently aligns with the desires of a nation’s leaders and its elite. At times, particularly in the short term, it may give the illusion of benefiting the wider population. This is often mistaken for genuine prosperity, as early-stage inflation can lead to heightened demand and a perception of economic growth.
Yet, the underlying aim of monetary policy primarily serves the interests of those in power, leaving the general populace to scramble for the remaining crumbs.
Nearly 250 years ago, in 1776, Edward Gibbon’s seminal work, The History of the Decline and Fall of the Roman Empire, was published in England. Gibbon’s comprehensive six-volume series chronicles a state that endured for twelve centuries in the West and another thousand years in the East, centered in Constantinople. Continue reading
This exploration into the past reminds us that the patterns of history often repeat themselves. By examining these historical narratives, we can glean valuable insights about our own society and its trajectory. The complexities of power and wealth distribution remain relevant today, urging us to reflect on the present and future of governance.
Ultimately, recognizing the cyclical nature of empires can prompt necessary discussions about the state of our own systems and inspire efforts towards more equitable policies that serve every citizen, not just the few.
