Why Every Great Empire Eventually Falls — Fexingo History
In this episode of Why Every Great Empire Eventually Falls, Lucas and Luna explore how the Song Dynasty—arguably the most advanced economy of the medieval world—was brought down not by invading armies alone, but by its own invention: paper money. They trace the rise of jiaozi, the world's first government-issued banknotes, and show how the Song's innovative financial system turned into a hyperinflationary death spiral. Along the way, they meet Emperor Huizong, the artist-emperor who lost the north; the brilliant but doomed reformer Wang Anshi; the Jurchen Jin dynasty that smashed Kaifeng in the Jingkang Incident; and Kublai Khan's Mongol horde that finished what inflation started. Lucas explains how the Song printed money to pay its bills, debased its currency with iron and copper shortages, and ultimately created a crisis so severe that even its massive population and technical ingenuity couldn't save it. A cautionary tale about monetary policy, fiscal discipline, and the hidden vulnerabilities of complex economies. #SongDynasty #Hyperinflation #Jiaozi #Huizong #WangAnshi #JingkangIncident #Jurchen #JinDynasty #KublaiKhan #MongolConquest #Kaifeng #PaperMoney #EconomicCollapse #MedievalChina #FinancialHistory #History #FexingoHistory #EmpireFall Keep every episode free: buymeacoffee.com/fexingo [https://buymeacoffee.com/fexingo]
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