How the Roman Empire Collapsed

July 19, 2024 • Reading Time: 7 minutes

And What We Can Learn from Ancient History

“History doesn’t repeat, but it often rhymes.”

– Unknown

Today we’re visiting the Roman Empire.

In entirety, it lasted close to 1000 years. ~500 years as a Republic, then ~500 years as an Empire.

And like every other great Empire, it eventually fell.

  • What were there warning signs?

  • Are there similarities to our world in 2024?

  • Which Romans survived, and how?

Exploring its rise and fall through the lens of art history, we might just find lessons that are still relevant to us today.

Let’s dive in.

Wealth Inequality

As the Roman Empire progressed into its later years, the distribution of wealth grew more and more unequal.

The wealthiest Romans were gradually getting richer and richer over time.

The frescos at the ​”Villa of the Mysteries”​ were well-preserved by the eruption of Mount Vesuvius in 79 AD, providing a snapshot of the opulence enjoyed by the wealthiest people in Ancient Rome.

On it’s own, wealth inequality isn’t a pending sign of collapse. However, it does signal economic instability and a general malaise of the working class.

Currency Debasement

In addition to minting more coins, the Roman authorities famously debased their coinage by melting it down and diluting the precious gold and silver with cheaper metals like copper.

Thomas Cole’s ​”Consummation of the Empire”​ shows the Empire at its peak. As Cole himself writes, “As the triumphal fete would indicate, man has conquered man – nations have been subjugated.”

Debasing the currency works similar to a tax.

It allows the Empire to spend more freely on public works by borrowing from tomorrow for the benefit of today.

So what did they spend this money on?

Military Overreach

The Romans got themselves in wars with surrounding nations and peoples that were largely unnecessary for the survival of the Empire.

This was especially the case in the latter centuries.

The ​”Sack of Rome”​ depicts the Germanic Vandals attacking a vulnerable Rome, weakened by it’s military campaigns far away from the capital. One of the most pivotal moments in its downfall.

Not only were these campaigns funded via monetary debasement, but it further stretched the Empire’s dwindling resources.

Federal Debt

There is much talk nowadays about the US government’s growing debt.

But deficit spending is not a new concept.

The Ancient Romans spent money they didn’t have at an increasing rate.

Aptly named, ​”The Romans of the Decadence”​ is the epitome of the excess and indulgence of the Roman elite, who historians agree were often criticized for their lavish lifestyle.

This created a further requirement to debase their own currency to service that debt. It was a financial death spiral.

Moral Decay

Historians largely agree that civic virtues were on the decline leading up to the collapse.

An apathetic citizenry, growing corruption, and “bread and circuses” were the mainstays of Roman society.

​Bread and circuses​ (panem et circenses) referred to the Empire’s policy of providing free bread and entertainment in an attempt to appease the masses, and distract the people from political and economic issues.

Fun fact, Jean-Léon Gérôme’s ​”Pollice Verso”​ inspired the famous thumbs up / thumbs down scenes in the movie Gladiator (zoom in on the crowd).

Perhaps the most famous of these “circuses” was the Colosseum and the gladiatorial games.

Political Polarization

This is the one you were waiting for, wasn’t it?

In the first century BC, Julius Caesar consolidated power and named himself dictator of Rome.

With fear for the Republic, Roman Senators conspired and successfully assassinated Julius Caesar in the Senate chamber in 44 BC.

​”The Assassination of Julius Caesar”​ by William Holmes Sullivan, symbolically marked the end of the Roman Republic and the beginning of the Roman Empire.

In a twist of fate, the very thing that the Senators feared most is exactly what came to pass following Caesar’s death.

The assassination led to a series of Civil Wars, and eventually transitioned the Roman Republic into an Empire with a much more autocratic and centralized power structure, best exemplified by the power of the Emperor himself.

Which Romans Survived?

As the Roman Empire declined into it’s eventual collapse in the 5th century AD, some Romans fared better than others.

The ones who survived (and even thrived) in this tumultuous period tended to:

  • Live in rural areas

  • Form communities

  • ₿uild parallel economies

  • Stay mentally flexible

  • Practice self-sufficiency

  • Preserve knowledge and skills

Building and preserving wealth is a bipartisan endeavour. With Wealth Potion, I try my best not to get into overly political topics.

But I believe a few things are clear in 2024:

  • The United States is a late-stage Empire. While it can certainly maintain dominance for many more decades, there are cracks starting to show.

  • History does not repeat, but it rhymes. And history is one of the greatest sources of wisdom when facing uncertainty.

  • Last Sunday, we were very close to living in a very different timeline. We should all be thankful for how last Sunday unfolded. The world today would be a very different and much more divided place.

Build in Public Update

I’m on vacation in Tokyo this week, and yet I’m still disappointed in myself for not keeping pace with my weekly YouTube upload schedule.

Most Creators and solopreneurs I’ve spoken with tried to prepare me for this feeling.

As a Creator, no one tells me what to do. I dictate my own schedule and how much I work.

This is both a blessing and a curse.

When I’m back in Seoul next week, I plan to slowly press down on the accelerator pedal. But I have to remember to not be too hard on myself, which I know is my natural tendency.

To your prosperity,

Brandon @ Wealth Potion

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