Four thousand years ago, Babylon’s ruler, Hammurabi, introduced wage and price controls. We can still read them on clay tablets and columns. This week Sushil Wadhwani, put forward a similar policy, calling it a “tax on inflation” perhaps to disguise its reality.
Larsa, Sumerian cult city of the sun god Utu, rose to a military superpower under warrior kings during the second millennium BC, who conquered the land and diverted the Euphrates.
Although Hammurabi’s Code of Laws is one of the most famous collections of laws from the ancient world, it is certainly not the oldest. In fact, it is preceded by at least two other codes of laws, namely the Laws of Ur-Namma (c. 2100 B.C., Ur) and the Laws of Lipit-Ishtar (c. 1930 B.C.., Isin). It may be pointed out these ancient Mesopotamian texts are not legal codes in the modern sense