Talk:John Law (economist)
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Would like to add: He said to be the father of finance. He is responsible for the use of paper money. He was both a gambler, a brilliant mental calculator and and expert in statistics and originator in economic theories. He would win card games by mentally calculating the odds.
In economics, he is known for his two major ideas: 'The Scarcity Theory of Value' and 'The Real Bills Doctrine of Money'.
He established the Banque Générale in 1716 as a state-chartered bank with the power to issue paper currency. In the same year, he established the Mississipi Company, to help the French colony in Louisiana.
Law's pioneering note-issuing bank was extremely successful until it collapsed and caused an economic crisis in France and Europe.
[edit] Economist?
I would say businessman/statesman/monopolist.--Jerryseinfeld 06:37, 26 Dec 2004 (UTC)
