The cycle of prosperity and decline was known even to the ancients.

In the Hebrew scripture the kingdoms of Judea and Israel cycled between good and bad kings, as the good kings who turned to God brought prosperity, but the next generations would forget God and fall into decadence, bringing chaos and ruin, until another good king came along to bring the people back to God.

Thomas Cole also immortalized the cycle in a series of paintings known as the Course of Empire.

The Savage State In which the untamed land is depicted

The Arcadian State In which the untamed land is cultivated by a pastoral culture

The Consummation of Empire In which the culture has grown to a state of decadence

Destruction In which the culture is overthrown by internal and external fighting

Desolation In which the land has returned to an untamed state, but with the remains of the destroyed empire

Throughout history, prosperity and decadence have been understood to be great dangers that beget tragedy. This is why the Bitcoin ethos of stay humble, stack sats is so appealing to me. It is so important for people to stay humble and have a long term outlook that values taking small steps towards success.