Source: EconLog
by Tarnell Brown
“By the time Diocletian came to power in 284 CE, his (non-immediate) predecessor, Aurelius, had done much to restore some semblance of order to the Empire, reunifying what had broken into three kingdoms and expelling invaders such as the Sarmatians and Vandals from Roman territory. Diocletian expanded on these actions, even going so far as to form a quartet of governing individuals, called the Tetrarchy, which co-administered the Empire with him at the head. However, the inflation continued, and the Emperor worsened it via a massive increase in military and public works spending. … Citing the influence of ‘evil traders,’ in 301 CE, Diocletian issued his Edict on Maximum Prices, which instituted widespread price controls on over one thousand different items …. Diocletian preemptively placed the blame for any failures of his policy on greed, launching into invective against wicked speculators and evil profiteers who conspired to rob into beggary a helpless public.” (08/01/25)
https://www.econlib.org/diocletian-the-roman-empire-and-forever-failing-price-controls/