John Law, Scottish economist, late 17th-early 18th century (c1880). Artist: Whymper
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John Law, Scottish economist, late 17th-early 18th century (c1880). Artist: Whymper
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 Cassells History of the United States, by Edmund Ollier, Volume I, Cassell Petter and Galpin, London, c1880
Media ID 14946199
© The Print Collector / Heritage-Images
Economist Edmund Edmund Ollier Financier John Law Mississippi Bubble Ollier Rake Speculation Wealth Wealthy Whymper
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