When the World’s Economy Caught a Cold

Picture the world economy in the 1920s as a huge fairground. Clever inventors had built lightning-fast assembly lines and modern farms, so stalls were packed with shiny new cars, radios and mountains of wheat. Thinkers like Karl Polányi, John Kenneth Galbraith, Eugen Varga, Nikolai Kondratyev, Paul Samuelson and Milton Friedman later tried to explain what happened next—but first came the noise and glitter. Sellers expected customers forever; nobody noticed the fairground was running out of eager buyers.

Theodosius the Great: Peace, Power, and a Lasting Divide

After a crushing defeat by the Goths, the Roman Empire was in chaos. But hope came in the form of a brave and skilled general: Theodosius. He wasn’t born into royalty—his father had served the emperor—but he quickly proved himself in battle and was chosen to lead.

The Emperor vs. Christianity

Long ago, when the mighty Roman Empire was ruled by Emperor Diocletian, a big problem was rising—and it wasn’t an invading army. It was a new religion spreading through towns, cities, and even into the army ranks: Christianity.