In the last 2,000 years, commodity shortages, financial speculation, wars, famines, and outright manias have created some pretty strange economic behavior throughout the world. Here are nine examples.
1. Cake or Death?
In order to stop rising inflation and devaluation of the currency in third century Rome, Emperor Diocletian instituted fixed prices on most consumer goods. Anyone selling goods at prices higher than those of the emperor was put to death; this led to hoarding of goods. A law was then... READ ON