The Phoenicians were not the first ancient people to sponsor long-distance seaborne trade, but they and their Carthaginian children were the first to perfect it. They are the real pioneers of what we will call maritime capitalism. How did they do it? By taking advantage of a unique window of opportunity. During the Middle Bronze Age (traditionally dated to the first half of the second millennium BCE), first Babylon and then Egypt dominated the Middle East. As their power faded, no single power dominated. In this climate of peace and stability, trade took the place of war. Babylonia tried to...