Today, in the US, we see increasing signs of cultural degeneracy in Hollywood, advertisements, academia, science, corporations, politics, and other areas of life.

What is your take?

Doug Casey: There have been a number of major turning points throughout history. Rome in the third century was one of them. It was a period of economic, political, and military chaos, aggravated by the social chaos accompanying the rise of Christianity. These things set the stage for the complete collapse of the old civilization in the West with the barbarian invasions after Adrianople in 378.

The Renaissance changed the nature of life in Western Europe starting in the 15th century, as did the Enlightenment in the 18th century. And, most important, in many ways, the Industrial Revolution overturned the pre-existing economic order starting in the early 19th century.

Whenever the public was in a frenzy about something or other, my friend Herman Kahn (look him up) liked to quip, "There are only two important things that have happened since the dawn of history—and this isn't one of them." He was referring to the Agricultural Revolution around 5000 years ago and the Industrial Revolution. It's good to keep things in perspective…

Of course, there have been plenty of bloody episodes, great discoveries, and breathtaking inventions along the way. The American Revolution, the French Revolution, WW I, WW II, the collapse of the USSR, and the rise of China are among them. But in the great sweep of history, they're really just footnotes. It bears emphasis, though, that almost everything of any importance that has happened in the last 500 years has been about or because of Western Civilization.