Revelation 18 makes it plain that Babylon here represents not only political power but also material wealth and luxury. As God’s judgment consumes the city of Babylon, her merchants and kings and sea captains and sailors will weep and mourn for their lost riches.  When the state and its leaders trample the individual; when things have more value than persons; when all is bent to the warped pattern set by Satan … then the fall of Babylon will bring joy to the godly.