What caused all the financial and economic crises throughout history till today? It all started 10,000 years ago.

By: Kamil Toume

Around 70,000 years ago, Homo Sapiens, the only surviving species of the Genus Homo migrated from Africa to different places over the globe, developing mentally, physically, and culturally to the areas in which they settled. Forming strong social groups for hunting, gathering, eating, raising children, and defending each other against the predators gave them a greater advantage not only to survive but to thrive and keep moving.

Around 10,000 B.C, humans made a quantum leap, they moved from hunting and gathering to farming. Hunting and gathering were no longer needed. Farming provided surplus which allowed humans to experience abundance for the first time and accumulate wealth. Agriculture was the catalyst for the emergence of complex societies composed of groups of tribes. As the societies grew more complicated, the ruling class carried out all the decisions and maintained order. The rulers were the few rich who assumed divine authority and were deputies of God on earth. They were the early form of government where people depended on them to resolve their issues and disputes.

Food reserves enriched the few and enabled them to extract more wealth and exercise more power which largely governed their behavior. Extracting more and giving back less led inevitably to catastrophic suffering and bad outcomes not only for the people but also for the elites themselves. It is not my assumption; It is history. Thousands of books and articles have been written about the subject, but few connected the dots. The top-down pyramid came into existence at that time. Humans built cities and civilizations that maintained the hierarchical social order between the rich and the poor.  

The Agriculture Revolution not only set the humankind on the road to progress, but also set them on the declining trajectory of history. Excessive greed and power have been the contributing factors to the demise of most civilizations. When humans abandoned the sharing culture and became greedy and selfish, history has started repeating itself. Crash after crash and the financial crisis of 2008 was the most recent episode in the crash show. Unfortunately, the crash show will continue, and more releases are to come because greed and power are still the governing behavior of those at the top.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.