Financial crises and renewal of empires

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Financial crises can paradoxically serve as catalysts for renewal within declining empires rather than merely hastening their downfall. Historical examples from Hellenistic Greece and early modern Venice illustrate that insufficient economic turmoil failed to foster a new elite, while in Rome and Byzantium, significant financial crises led to the rise of a military aristocracy. This emerging class, grounded in practical realities, adeptly navigated the challenges of crisis, ultimately contributing to the resurgence of their respective civilizations.