John Law, Scottish Economist, Late
by Print Collector
Title
John Law, Scottish Economist, Late
Artist
Print Collector
Medium
Drawing - Illustration
Description
John Law, Scottish economist, late 17th-early 18th century (c1880). A Scottish economist, gambler, banker, murderer, royal advisor, exile, rake and adventurer, Law (1671-1729) fled to France after killing a man in a duel. Gaining the favour of the Regent of France, the Duc d'Orleans, he became influential in French political and economic circles. He is best known as the founder of the Mississippi Scheme (1717-1720) to develop colonies in the Mississippi valley, which gained him great popularity in France and made him a paper millionaire. The scheme was largely based on speculation rather than actual economic growth however, and a crisis in confidence caused the 'Mississippi Bubble' to burst, forcing Law to leave France, dying in poverty in Venice. A print from Cassell's History of the United States, by Edmund Ollier, Volume I, Cassell Petter and Galpin, London, c1880. (Photo by The Print Collector/Print Collector/Getty Images)
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January 28th, 2021
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463999331
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