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The term five good emperors was coined by Machiavelli and is still used today. It is the fruit of his biased views. In fact, Machiavelli saw Titus, who reigned before his "five good emperors" as a good emperor, but ruled him out for the reason explained below. The seven emperors before the five good ones (apart for the three men who ruled shortly in the fights for power of the Year of the Four Emperors, 69 AD, which Vespasian won) were not necessarily bad. In the reign of the early emperors there was tension between the emperors, who were absolute rulers, and the senators and the aristocracy who disliked their power. Not all he emperors by birth which preceded the five good emperors were bad. Moreover, Machiavelli (And other historians after him) tended to take the writings of (aristocratic) ancient Romans about the emperors at face value. Some emperors who were unpopular with the aristocracy were portrayed in what was most probably a slanderous way. More recently, a more critical appraisal by modern historians had put these emperors in a more favourable light.

Machiavelli mentioned six emperors who ruled well: Titus (ruled 71-81) Nerva (96-98 AD), Trajan (98-117), Hadrian (117-138), Antoninus Pius (138-161) and Marcus Aurelius (161-180). However, he used the term five good emperors, which excluded Titus, because Titus was the son of the emperor Vespasian, while the other five men succeeded by adoption (by the previous emperor). Machiavelli thought that they were good rulers because they did not inherit the throne by birth. He also said that when emperors inherited the throne by birth again, bad rule started again. He wrote: 'From the study of this history we may also learn how a good government is to be established; for while all the emperors who succeeded to the throne by birth, except Titus, were bad, all who were good succeeded by adoption, as in the case of the five from Nerva to Marcus. But as soon as the empire fell once more to the heirs by birth, its ruin recommenced.' Machiavelli said that five good emperors were good rulers and exercised good governance. They were benign rulers, lived good lives pursued moderate policies, ruled wisely, allowed a lot of freedom and earned the goodwill of the people.

The famous 18th century historian Edward Gibbon wrote that during the reign of the five good emperors: "The vast extent of the Roman Empire was governed by absolute power, under the guidance of virtue and wisdom. The armies were restrained by the firm but gentle hand of five successive emperors, whose characters and authority commanded respect. The forms of the civil administration were carefully preserved by [these emperors], who delighted in the image of liberty, and were pleased with considering themselves as the accountable ministers of the laws. Such princes deserved the honour of restoring the republic had the Romans of their days been capable of enjoying a rational freedom."

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