True!

Also education is controlled by the people, who has the interest to keep other people where they are.

But if we put this aside, one other big problem is, that usually these cycles are bigger then a person's life. Therefore, you don't know what to expect, because you haven't seen such before. And that is why the following saying is good:

Hard times create strong people.

Strong people create easy times.

Easy times create weak people.

Weak people create hard times.

Because these steps relates to cycles, and e.g. when easy times hit, the strong people already passed away, who knows what caused the problems to them, and what shall not be done. But the people who influence the current cycle has no clue, what will happen if they do what is easy. And it is kind of evolutional to go for the least resistance.

We have to admit, that facing a crisis takes courage, harder, then just inflating away money, that people only will see a few years later, when you are anyway not governing. So why not give free money, let people love you, and let other people to take the responsibility for ruining the populations life later.