Profile Major Works Resources

John Law, 1671-1729


A Scottish economist,  gambler, banker, murderer, royal advisor, exile, rake and adventurer, the remarkable John Law is renowned for more than his economic theories.  A "reckless, and unbalanced, but most fascinating genius" as Alfred Marshall (1923: p.41) called him, with "the pleasant character mixture of swindler and prophet" as  Karl Marx (1894: p.441) added.  Law popular fame (notoriety?) rests on two remarkable enterprises he conducted in Paris: the Banque Générale and the Mississippi Company.  His economic fame rests on two major ideas: the scarcity theory of value and the real bills doctrine of money.


 

  


top1.gif (924 bytes)Top

Major works of John Law

  • Money and Trade Considered with a Proposal for Supplying the Nation with Money, 1705
    • [1720 ed] [1750 ed] [McM, Aval]
    • French translations: [1720 trans. Considérations sur le commerce et sur l'argent] [1843 Daire trans: Considérations sur le numéraire et le commerce (1851 ed.)]
  • [Anon] Two Overtures Humbly Offered to His Grace John, Duke of Argyll, Her Majesties High Commissioner, and the Right Honourable the Estates of Parliament, the 1. for supplying the present scarcity of coyn, and improving trade, the 2. for clearing the debts due by the government to the army and civil list, 1705. [as reprinted in Bannister, 1858, v.2, xliii-xlvii]
  • Mémoire sur l'usage des monnaies, 1707-08
  • Mémoire pour prouver qu'une nouvelle espèce de monnaie peut être meilleure que l'or et l'argent, 1707-08 [McM]
  • (First) Mémoire sur les banques, présenté a son altesse royale Monseigneur le duc d'Orléans, régent de France, wr.c.1715-16 [1851 Daire ed.]
  • (Second) Mémoire sur les banques, wr. c.1715-16 [1851 Daire ed.]. 
  • Oeuvres de Jean Law, Contrôleur-général des finances de France sous le régent ; contenant les principes sur le numéraire, le commerce, le crédit et les banques, 1790 [bk]
 

HET pages:

 

top1.gif (924 bytes)Top

Resources on John Law

Contemporary

  • [Anon] Proposals and Reasons for Constituting a Council of Trade in Scotland, 1701 [1751 ed erroneously attributes it to Law; Bannister 1858 ed. correctly attributes it to William Paterson]
  • [Anon] The Occasion of Scotland's Decay in Trade: with a proper expedient for recovery thereof, and the increase of our wealth, 1705 [bk] [Bannister, 1858: xlvii. attributes it to William Paterson]
  • ["T.W."] An Essay concerning inland and foreign, publick and private trade ; together with some overtures, shewing how a company, or national trade, may be constituted in Scotland, with the advantages which result thereform,  1705.[reprint in Banister, 1858: p.liii-lix., attrib to Paterson]
  • [Anon (Dr. James Smith?)] Some considerations on the consequences of the French settling colonies on the Mississippi, with respect to the trade and safety of the English plantations in America and the West Indies. (1720) [bk]
  • [Anon] Considerations Occasioned by the Bill for enabling the South-Sea Company to increase their capital stock, &c., with observations of Mr. Law, Comptroller General of the Finances of France, 1720 [bk]
  • [Anon] Observations on the Scheme of Mr. Law, in France, and of Sir Humphrey Mackworth, in Great Britain, and concerning the establishing paper-money, and forcing credit, 1720 [bk]
  • [Anon] Le Secret du Systeme de M. Law Devoilé. En deux lettres écrites par un Duc & Pair de France, et un Mylord Anglois. 1721 [bk]

19th Century.

  • A Sketch of the Life and Projects of John Law of Lauriston, by John Phillip Wood (1791) [bk] [1824 ed.]
  • Memoirs of the Life of John Law: Including a detailed account of the rise, progress, and termination of the Mississippi system. by John Phillip Wood (1824) [bk]
  • "Law" by (Adolphe Thiers?) in 1826, Encyclopedie Progressive [bk]
  • "Notice historique sur Jean Law, ses écrits et les opérations du système", in Eugène Daire, 1843, Économistes financiers du XVIIIe siècle, Paris: Guillaumin [bk]
  • Une préface au Socialisme, ou le système de Law et la chasse aux capitalistes, by Alphonse Jobez, 1848 [bk]
  • Recherches historiques sur le système de Law, by Émile Levasseur, 1854. [bk]
  • Law, son système et son époque, 1716-1729 by André Cochut, 1853. [1856 English trans. as The Financier, Law: His scheme and times, a graphic description of the origin, maturity and wreck of the Mississippi Scheme. [bk]]
  • Histoire de Law by Adolphe Thiers, 1858 [bk] [1859 English transl. as The Mississippi Bubble: A memoir of John Law, bk]:
  • "The Controversy between John Law of Lauriston and Paterson", by William Bannister, 1858, Writings of William Paterson, vol. 2, p.xli
  • John Law, the Projector - v.1, v.2, v.3 - novel by William Harrison Ainsworth, 1864.
  • An Historical study of Law's System, by Andrew McFarland Davis, 1887 [bk]
  • France under the Regency, with a review of the administration of Louis XIV, by James Breck Perkins, 1892 [1920 ed.]
  • John Law of Lauriston: financier and statesman by A.W. Wiston-Glynn, 1907 [bk]
  • The medals relating to John Law and the Mississippi system by B. Betts, 1907  [bk]
    John Law: A fantastic financier, 1671-1729 by George Oudard, 1928

Modern

 
top1.gif (924 bytes)Top
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

All rights reserved, Gonçalo L. Fonseca