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View Diary: Krugman: IMF World Economic Outlook Report Confirms "Republicans have been wrong about everything." (65 comments)

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  •  Sounds like one theory behind what (3+ / 0-)
    Recommended by:
    KenBee, markthshark, glitterscale

    happened to the Roman Empire:

    An economy based upon slave labor precluded a middle class with buying power. The Roman Empire produced few exportable goods. Material innovation, whether through entrepreneurialism or technological advancement, all but ended long before the final dissolution of the Empire. Meanwhile the costs of military defense and the pomp of Emperors continued. Financial needs continued to increase, but the means of meeting them steadily eroded. In the end, due to economic failure, even the armor of soldiers deteriorated and the weaponry of soldiers became so obsolete that the enemies of the Empire had better armor and weapons as well as larger forces. The decrepit social order offered so little to its subjects that many saw the barbarian invasion as liberation from onerous obligations to the ruling class.

    Decline of the Roman Empire

    “Mitt Romney is the only person in America who looked at the way this Congress is behaving and said, ‘I want the brains behind THAT operation.’ ” — Tom Perriello

    by hungrycoyote on Fri Oct 12, 2012 at 12:21:38 PM PDT

    [ Parent ]

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