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John Law (1671 A?i? 1729). Scottish economist. Dutch satiri
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John Law (1671 A?i? 1729). Scottish economist. Dutch satiri
John Law (1671A?i?1729). Scottish economist. He was appointed Controller General of Finances of France under King Louis XV. In 1716 Law established the Banque G?n?rale in France, a private bank. Dutch satirical engraving. Colored
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Media ID 14338591
© Thaliastock / Mary Evans
Bank Banker Banknote Banque Barcelona Bubble Catalonia Chaotic Character Collapse Controller Economist Economy Episcopal Finances Financier Generale Mississippi Personage Satirical
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"John Law (1671-1729): A Scottish Economist's Chaotic Journey through Europe's Financial History This colorful and satirical engraving depicts the enigmatic figure of John Law, a Scottish economist who left an indelible mark on European financial history. Born in Edinburgh in 1671, Law rose to prominence in the early 18th century when he was appointed Controller General of Finances of France under King Louis XV. In 1716, Law established the Banque Générale in France, a private bank that issued the first modern banknotes. The bank's success was short-lived, however, as Law's ambitious plans for economic reform and the issuance of excessive paper money led to a speculative bubble and eventual collapse, known as the Mississippi Bubble. This satirical print, likely produced in the Netherlands, captures the chaotic character of Law's financial schemes and the public's reaction to them. The image shows Law as a larger-than-life figure, surrounded by symbols of his financial schemes, including a barrel labeled "Mississippi Company," a pile of banknotes, and a chaotic crowd of people. Despite the failure of his financial ventures, Law's ideas and innovations had a lasting impact on the modern economy. His experiments with paper money and the establishment of a central bank laid the groundwork for future monetary systems. This engraving, with its vivid colors and biting satire, offers a glimpse into the complex and intriguing world of John Law and the tumultuous financial age in which he lived." [Note: This caption is intended for educational and informational purposes only and is not meant for commercial use. The image is from the Episcopal Library in Barcelona, Catalonia, Spain, and is available through Mary Evans Prints Online.]
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