“Assyria soon discovered a painful truth: empires are like Ponzi schemes: financial frauds in which previous investors are paid returns out of new investors' deposits. The costs of holding imperial territory can only be underwritten by loot and tribute extracted by constant new conquests; empires must continue to expand if they are not to collapse.”

Paul Kriwaczek

Paul Kriwaczek - “Assyria soon discovered a painful...” 1

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