Bob Hoye is a noted scholar of economic history. He believes that the 20th century was the third era of centralized governmental authority. The cycle always repeats itself. Great wealth is generated by the citizenry. This leads to an empowered governing class which seeks to confiscate all this wealth. Their appetite then exceeds the citizenry’s earning power and we wind up with a bankrupt state. The state falls and then the individual again rises. It happened with Roman, then Spain and now the Modern World. Bob is expecting a similar course to occur this time.
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