WSJ Historically Speaking: The Risks of Trading Abroad, From Mesopotamia to Apple

ILLUSTRATION: THOMAS FUCHS

ILLUSTRATION: THOMAS FUCHS

Doing business overseas has put many enterprises on the road to making big money—but it can also be a quick way to lose a lot. Apple is vigorously fighting a bill for $14.5 billion in back taxes that the European Union says it owes Ireland. The iPhone maker will survive whatever happens, but the dispute illustrates the risks that businesses face when dealing with foreign governments. It’s a challenge that has grown more serious in recent years with the rise of aggressive nationalism in many countries.

In much of the ancient world, the presence of foreign merchants was regarded as a boon. During the third millennium B.C., the Mesopotamian ruler Sargon the Great boasted of his modern port facilities and the international trade that they attracted. The ancient Greeks went further and built specially protected ports for trade. There, taxes were low and legal rights were guaranteed, and foreigners could enter into contracts with confidence. Such arrangements enabled the Greeks to profit from extensive long-distance trading networks and proved inspirational to the Romans. Continue reading…

WSJ Historically Speaking: The World-Changing Power of the Flu

ILLUSTRATION: THOMAS FUCHS

ILLUSTRATION: THOMAS FUCHS

Getting a flu vaccine is a dreary annual chore, made worse by the fact that the serum often doesn’t work against the current strain of the virus. But good news seems to be on the horizon. Scientists now report that they have successfully adjusted a viral protein to teach immune systems to fight groups of viruses—an important step toward creating a universal vaccine.

The breakthrough is long overdue. The flu is an ancient disease—at least 2,000 years old—and one of the deadliest, with 10 pandemics in just the past three centuries.

Such is the flu’s power that it should be added to the list of history-altering diseases like typhoid, malaria and smallpox. The first wiped out almost a third of the Athenian population in 430 B.C., a year into the Peloponnesian War against the Spartans. Sixteen hundred years later, in 1167, a malaria-like epidemic forced the Holy Roman Emperor Frederick I to abandon Rome and retreat with his army to Germany.

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