Diocletian, who once ruled territory that now includes Croatia, tried and failed to rein in inflation by dictating prices.
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While Argentina reaps the benefits of repealing its disastrous rent control law, Washington legislators are hurling headlong down the path of ruinous third-world housing policy.
From Babylon and Athens to the brutal decrees of Emperor Diocletian, price-fixing has been a tool of state control, suppressing free trade and producing the same results: economic distortions ...
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From Mesopotamia’s Code of Hammurabi and Roman Emperor Diocletian’s Edict on Maximum Prices to President Richard Nixon’s wage and price controls, these policies follow the same pattern ...