We consider the quantum gravitational back-reaction on an initially in
flating, homogeneous and isotropic universe whose topology is T-3 x R.
Although there is no secular effect at one loop, an explicit calculat
ion shows that two-loop processes act to slow the rate of expansion by
an amount which becomes non-perturbatively large at late times. By ex
ploiting Feynman's tree theorem we show that all higher loops act in t
he same sense.