Cyclical Theory of Elite Competition, Extraction and Exhaustion
"The leading modern day cyclical theorist is undoubtedly Peter Turchin. For my money Turchin’s best book is Secular Cycles (co-authored with Sergey A. Nefedov). Their innovation (building on an argument made by my GMU colleague Jack Goldstone in his 1991 book Revolution and Rebellion in the Early Modern World) is to take the Malthusian model of economic cycles and add to it a model of elite competition.
Tuchin and Nefedov show that periods of demographic expansion are often associated with the growth of elite incomes and inequality (as population growth causes rents to rise and wages to fall). More elites competing over the surplus, however, puts fiscal pressure on the surplus-extraction machine that we call the state. Elite overproduction thus brings about a political crisis. Secular Cycles applied this model to medieval and early modern England and France, Russia and ancient Rome. Turchin’s most recent book applies it to the United States." (https://notesonliberty.com/2017/05/03/the-return-of-cyclical-theories-of-history/)