Scottish economist and banker (1671-1729)
Scottish-French financier who engineered the Mississippi Bubble of 1720, a financial scheme so spectacularly bad it became history's most famous boom-and-bust. Law's System promised to fix France's finances and instead blew up spectacularly.
John Law was a Scottish-French economist and financier. He rose to power in France where he created a novel financial scheme for French public finances known as Law's System with two institutions at its core, John Law's Bank and John Law's Company, ending in the devastating boom and bust "Mississippi Bubble" of 1720.
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