Honestly that's pretty close to how it is for Antiquity. Experts can explain the detailed mechanisms, but the Why just comes down to "they built their whole society around constantly importing new slaves and fighting bigger and bigger wars to get them, the fuck did they think would happen?"
Hubris at the top is a great reason to fail though.
The political class here built a self-sustaining empire built on economic power and then half of them decided to tell the country that being poor was better
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