John Law
aliases
Law of Laurieston, Giovanni Lau
John Law (1671 – 1729) was a Scottish economist who believed that money was only a means of exchange that did not constitute wealth in itself and that national wealth depended on trade. He was appointed Controller General of Finances of France under the Duke of Orleans, Regent for the youthful King Louis XV.
In 1716 Law established the Banque Générale in France, a private bank, but three-quarters of the capital consisted of government bills and government-accepted notes, effectively making it the first central bank of the nation. He was responsible for the Mississippi Company bubble and a chaotic economic collapse in France, which has been compared to the early-17th century tulip mania in Holland.
In 1716 Law established the Banque Générale in France, a private bank, but three-quarters of the capital consisted of government bills and government-accepted notes, effectively making it the first central bank of the nation. He was responsible for the Mississippi Company bubble and a chaotic economic collapse in France, which has been compared to the early-17th century tulip mania in Holland.
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Books with John Law
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Millionaire: The Philanderer, Gambler, and Duelist who Invented Modern Finance
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1999
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Extraordinary Popular Delusions and The Madness of Crowds, Volume 1
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published
1841
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The Great Nation: France from Louis XV to Napoleon
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published
2002
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Scotland: The Global History: 1603 to the Present
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published
2022
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The Price of Scotland: Darien, Union and the Wealth of Nations
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published
2007
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John Law: A Scottish Adventurer in the Eighteenth Century
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published
2018
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A Street Shaken by Light
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published
2022
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The First Crash: Lessons from the South Sea Bubble
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published
2004
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The Speculator & The Meeting
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published
1999
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John Law: Economic Theorist and Policy Maker
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published
1997
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