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John Law was a Scottish-French economist who founded the Banque Royale and the Mississippi Company in 18th-century France. He advocated for paper money, fractional reserve banking, and national wealth based on trade, but his schemes collapsed in a financial crisis.
John Law (1671-1729) was a Scottish economist who proposed a system of paper money and a colonial company in France. He was involved in the Mississippi Bubble, a financial crisis that ruined him and many investors.
Jun 26, 1997 · A book by Antoin E. Murphy that explores the life and work of John Law (1671–1729), a Scottish economist who designed and implemented the Mississippi System in France. The book covers Law's economic concepts, his background, his controversies, his achievements, and his legacy.
John Law, a renowned Scottish economist, was born on April 21, 1671, in Edinburgh, UK. Law belonged to a family of bankers and goldsmiths. His father was the owner of the famous Lauriston Castle, and his mother was a distant relative of the duke of Argyll.
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