Carolina QuotesMany of the historical "Golden Ages" were... golden... only for the elites, whose high levels of consumption were based on low real wages and falling consumption levels of the great majority...
Peter Turchin Connected to the Carolinas
Source
Discussion
- work
- The 2010 structural-demographic forecast for the 2010–2020 decade (Aug 17, 2020)
- year
- 2010
Cite this record
“Many of the historical "Golden Ages" were... golden... only …” Peter Turchin. Carolina Quotes, record CQ-69A87ECAFC. https://carolinaquotes.com/quote/69a87ecafc
More from Peter Turchin
So this is how elite overproduction drives intraelite competition, intraelite conflicts, rise of the counter-elites and then sociopolitical instability.
We are also entering a dip in the so-called Kondratiev wave... This could mean that future recessions will be severe.
[E]ssentially in any society, however the elites are defined, whether economic, administrative, military, or ideological, they need to support a certain level of income, and so when their numbers grow, inevitably they have to extract that income from the commoners.