Decline of Empire: Parallels Between the U.S. and Rome
By Doug Casey
July 15, 2016
As some of you know, I’m an aficionado of ancient history. I thought it might be worthwhile to discuss what happened to Rome and based on that, what’s likely to happen to the U.S. Spoiler alert:
There are some similarities between the U.S. and Rome.
But before continuing, please seat yourself comfortably. This article will necessarily cover exactly those things you’re never supposed to talk about—religion and politics—
and do what you’re never supposed to do, namely, bad-mouth the military
There are good reasons for looking to Rome rather than any other civilization when trying to see where the U.S. is headed. Everyone knows Rome declined, but few people understand why. And, I think, even fewer realize that the U.S. is now well along the same path for pretty much the same reasons, which I’ll explore shortly.
Rome reached its peak of military power around the year 107, when Trajan completed the conquest of Dacia (the territory of modern Romania). With Dacia, the empire peaked in size, but I’d argue it was already past its peak by almost every other measure.
The U.S. reached its peak relative to the world, and in some ways its absolute peak, as early as the 1950s. In 1950 this country produced 50% of the world’s GNP and 80% of its vehicles. Now it’s about 21% of world GNP and 5% of its vehicles. It owned two-thirds of the world’s gold reserves; now it holds one-fourth. It was, by a huge margin, the world’s biggest creditor, whereas now it’s the biggest debtor by a huge margin. The income of the average American was by far the highest in the world; today it ranks about eighth, and it’s slipping.
But it’s not just the U.S.—it’s Western civilization that’s in decline.
Like America, Rome was founded by refugees—from Troy, at least in myth. Like America, it was ruled by kings in its early history. Later, Romans became self-governing, with several Assemblies and a Senate. Later still, power devolved to the executive, which was likely not an accident.
U.S. founders modeled the country on Rome, all the way down to the architecture of government buildings, the use of the eagle as the national bird, the use of Latin mottos, and the unfortunate use of the fasces—the axe surrounded by rods—as a symbol of state power. Publius, the pseudonymous author of The Federalist Papers, took his name from one of Rome’s first consuls. As it was in Rome, military prowess is at the center of the national identity of the U.S. When you adopt a model in earnest, you grow to resemble it.
A considerable cottage industry has developed comparing ancient and modern times since Edward Gibbon published The Decline and Fall of the Roman Empire
in 1776—the same year as Adam Smith’s Wealth of Nations
and the U.S. Declaration of Independence
were written. I’m a big fan of all three, but D&F is not only a great history, it’s very elegant and readable literature. And it’s actually a laugh riot; Gibbon had a subtle wit.