In 301 A.D., the Emperor Diocletian made a bold but ultimately unsuccessful bid to address the inflation that was rampaging across the eastern half of the divided Roman Empire.
Prices of everything from purple thread and feathers to slaves and cattle were dictated by his Edict on Maximum Prices. Violators faced the death penalty. Diocletian gave up power about four years after issuing his edict, watching his measure fail from his sprawling retirement palace in the heart of what became the city of Split in Croatia.
Now Croatia’s government is trying a similar tactic to rein in prices that have soared in recent years and sparked protests and retail boycotts by the country’s beleaguered consumers.
On Feb. 7, the government introduced price controls for retailers, targeting supermarket items such as bread, pork and shampoo. The penalties are less drastic than those decreed by Diocletian, mandating a fine of up to 30,000 euros, or $31,400, for retailers breaking the rules.
It is unclear whether the new edict will be any more successful than Diocletian’s, which economists say ended up being counterproductive by causing shortages, fueling a black market and enabling profiteers.
For the moment, consumers are still figuring out how to navigate the new system, which caps the price of 70 common grocery store products.
