A comparison of EU economic policy with the late-Roman economy

Religious scholars traditionally agree on 33AD as the official date that the historical Jesus of Nazareth was crucified under the order of Roman prefect Pontius Pilate. What is less well known is that this was also the date of the first ever recorded economic crisis, which almost brought the entire Roman economy to its knees.

It all started when trading firm Seuthes & Son, an important Alexandria spice trader, lost three well-laden shipments in a hurricane half-way through crossing the Red Sea. Soon afterwards, another wealthy firm at Tyre, Malchus & Co., suddenly became bankrupt after its Phoenician workforce went on strike and the embezzlements of a freedman manager caught up with the company.