500 Years Of Big Cycles: The Rise
Lesson summary:
The cycle of empires can be divided into three phases: rise, top, and decline. Revolutionary leaders gain power by consolidating their support and weakening opposition. Successful empires establish systems and institutions that promote education, strong character, and low corruption. They also innovate and shift from producing basic products to creating new technologies. Successful empires develop capitalist systems to incentivize entrepreneurs and develop productive markets. The most powerful empires coordinate their governments, businesses, and military operations. Having a reserve currency is a significant advantage, as it enables empires to borrow more than others. All of the most powerful empires in history have followed this cycle to reach the top.