[T]he problem is that as we get greater numbers of these surplus elites... some of them turn into... counter-elites... the individuals who are willing to challenge... the reigning regime, and in history often... by violent means, and in fact this is happening in the United States... they're willing to break the rules of the game.

Both exogenous and endogenous. ...[H]uman societies have changed dramatically over the past couple of hundred years, and you have to take that into account. ...Many people talk about now, especially because of , the effect of technology, the automation, and of robotization, and that is certainly a force that reduces labor supply. But other things... played in the United States at the level of labor supply... first... the baby boom that created a large cohort of workers; and secondly the... massive entry of women into the labor force; and immigration. Immigration actually is much discussed but numerically it's... slightly less important than the... other demographic forces that we're talking about. ...What's exogenous, what's endogenous? It's really a matter of what our best model is, because you can endogenize things. But some things cannot be endogenized, so there are automation processes... this is a very long term process that has been happening over thousands of years... And so in my model that's clearly an exogenous mechanism. But what's the most important (to me) endogenous mechanism is the last thing that I included in the model, which is the attitudes... Think about it as institutions. ...Labor promoting institutions were installed in the United States as a result of the New Deal, and they worked very well until [the] late 70s, and then they... started to be dismantled... especially under the Reagan administration. And so I use the mininum wage as a proxy for the elite attitudes towards workers. It seems to work quite well, but we could use other proxies such as illegal anti-labor moves by firms. So that is an endogenous mechanism in theory because... essentially, ...when ...[a] crisis ...either destroys part of the elites, or frightens them so much that they install institutions that are more pro-labor, and that lasts until the collective memory of the crisis fades, and then you have... [a] recycling process... in my book I unpack these ideas.

Making scientific predictions about the events that happened, but are not known to the authors of the theory, is a valid scientific approach in historical sciences, such as geology, astrophysics, evolutionary biology, and (history as science). It is sometimes referred to as "". ...[T]he primary way of testing theories in historical dynamics is retrodiction. But when mulitple successful tests using retrodiction (prediction about the past) are complemented with a few cases of prediction about the future, our degree of confidence in the theory is... enhanced.

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So far so good. But the problem is, as in many dynamical systems, there are some delayed effects of such dynamics. ...Here are some numbers on the relative distribution of wealth in the American population. You have good data from 1983 to 2019... when we look at the percentage of households with [inflation adjusted in 1995 US dollars] net worth exceeding... Millionaires, roughly 10% of the population (7% now) increased from 3% to 7% but then growth in... classes such as decamillionaires was even more remarkable... more than fivefold, sixfold increase in the proportion of households that have 10 million dollars wealth, or more.

My colleague has expressed a pessimistic view in his book The Great Leveler... where he says the death is the great leveler so... a major violent shock is needed to reverse the economic inequality. I... look at this a bit more optimistically. Essentially entering into the crisis is relatively stereotypical, that's what our CrisisDB investigations show... [I]t's really conflict that plays a key role, together with mass organization. But the exit is usually contingent, and in fact there could be both good and bad outcomes, as indicated in this graph. Sometimes the decline is mild and followed by rapid recovery, but you... can also have complete collapse.

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It became clear... through quantitative historical analysis that [throughout time] complex societies everywhere are affected by recurrent and, to a... degree, predictable waves of political instability, brought about by the same basic set of forces...

Immiseration is important, but... societies can... be pretty stable with quite a lot of immiseration. As long as the elites are united and the state is strong, the state can suppress all those peasant rebellions... All "successful" revolutions and civil wars were the result of the intraelite conflicts. Even today, if you look at Donald Trump, who is sort of the main "revolutionary" so to speak, ...he is not particularly immiserated himself, but he's channeling... the tens of millions of immiserated Americans.

We have analyzed CrisiDB because there's plenty of data on weather proxies. ...Weather, climate worsening seems to serve often as a trigger for crisis. But the key question is whether the societies have resilience... When populations are not immiserated and elites are not overproduced the social stability and resilience is very high, and societies adjust reasonably well to climate shocks. It's really when drivers for instability have been working for a while, that's when the climate can often serve as the trigger.

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[T]he second condition... is absolutely much more predictive of immediate troubles to come, and that's intraelite competition which results... when elite numbers increase relative to the general population. As a result... we have too many elite aspirants vying for a limited number of positions... causes... intraelite competition, eventually conflict, and that... in our analysis of about 100... cases of past societies sliding into crisis and then out... That turns out to be the most universal and most important force.