Britain's 10 worst recessions ever

If the media's constant talk of "recession", "credit crunch" and "downturn" is depressing you, bear in mind that our ancestors have had it much worse. Here Times Money looks at ten of the grimmest decades in British history – when economic troubles often coincided with bloodshed and famine... 270s: The Roman Empire, including Britannia, was in turmoil for 50 years from the 230s, seeing a succession of up to 30 emperors. Pressure from the Persians to the East and “barbarians” to the North combined with civil war and the emergence of breakaway Latin states to cause a massive breakdown in security and communications which disrupted trade and forced a shift from an open mercantile system to more localised and feudal economies characteristic of the Middle Ages. The 270s were years of debased coinage – with minimal silver content –... [read full story]