Renascent Italy furnished numerous examples of power built up by these means, and even the beneficiaries knew how unstable was their dominion. Professor Achille Loria has pointed out that Machiavelli’s admiration for Caesar Borgia was due to his perfect comprehension of the true nature of feudal property and to his understanding of the inherent necessity for the spoliations, extortions, and crimes which characterised it; and also of the historical justification of the acts that favoured the preservation of this dominant social form.[1] The bombastic chronicles of great men are now recognised as of slight value, for the economic interpretation of history teaches us that the individual plays but a small part in the march of events, even when his character is the noblest, his aims the highest; without Washington the colonies would have become the United States, and the slaves would have been freed without Lincoln. A great man, especially in the domain of politics, is the product of his age. A genius appearing before society is ready for him is a visionary, but if the times are ripe for him he is a genius; the great man is he who best discerns the spirit of the age and enters the lists as the champion of popular ideals. He is essentially the product of his environment, and is so much a part of it that it is impossible to think of him as belonging to any other. Men being products of history, under similar conditions similar men will be produced; but as they in the aggregate are the makers of history there is a constant mutation in conditions and therefore ceaseless change in men. In every epoch there are men who although in many respects unlike their prototypes resemble them in others, and bear a close relationship to them. Unchecked egoism asserts itself in every age, but the mode of its expression varies according to the institutions of the day. In Italy from the twelfth to the sixteenth century this egoism was embodied in the tyrant or despot; it has found expression in the absolute monarch, and in the present bourgeois epoch it is exemplified in the captain of industry, the domineering genius of modern finance. In the fifteenth century Italy was swarming with tyrants great and small--men of boundless ambition and greed, striving for power, deterred by no principle, hesitating at no crime. Duplicity, treachery, murder, had become fine arts. A host of adventurers, upstarts, brigands, soldiers of fortune, had managed to secure possession of the domain of St. Peter and were building up petty principalities for themselves and their kinsmen. Originally these tyrants were feudatories of the Holy See, which based its claim to the territory on the donation of the Countess Matilda, who, dying in 1115, left her vast estates, which extended from Mantua to Pisa and thence almost to the walls of Rome, to the Pope.