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That cycle doesn't work in the technological age in which we live being that it relies on the passing nature of culture, politics and the power infrastructure, which nowadays are much more entrenched and don't end up "passing away" the way the old pre-technological societies did...
Witness the bounty of the 700 billion dollar bailout...
Whether or not it actually survives, "democracy" will be a perceived actuarial government form for a lot longer than Babylon or the Roman empire.
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