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John Law (pronounced in French in the traditional approximation of Laws, the colloquial Scottish form of the name; 21 April 1671 – 21 March 1729) was a Scottish-French economist who distinguished money, a means of exchange, from national wealth dependent on trade.
- Economist, banker, financier, author, controller-general of finances
Mar 20, 2024 · John Law (baptized April 21, 1671, Edinburgh, Scotland—died March 21, 1729, Venice, Italy) was a Scottish monetary reformer and originator of the “Mississippi scheme” for the development of French territories in America. Law studied mathematics, commerce, and political economy in London.
Aug 30, 2018 · In the new science of money and banking, he had discovered, he believed, the secret sauce for economic success. He wasted no time in recommending shock therapy for France’s feudal...
Sep 5, 2020 · For example: John Law was a convicted murderer on the lam when he showed up in France in the early 1700s. In the space of just a few years, he created an entire modern economy — banks, paper ...
John Law (baptized April 21, 1671 - March 21, 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. His popular fame rests on two remarkable enterprises he conducted in Paris: The Banque Générale and the Mississippi Scheme.
May 23, 2018 · He explained that value is determined by supply and demand and that the value of money is only a special case in value theory. The key to his monetary thought is his assumption of a state of disequilibrium, with large masses of idle factors of production, as a starting point for analysis.
Apr 4, 2024 · The New School in New York City describes John Law as an “economist, gambler, banker, murderer, royal advisor, exile, rake, and adventurer.” The great economist Alfred Marshall also said he was “reckless, and unbalanced, but a most fascinating genius.”
