John Law and the Mississippi Bubble | Bad Ideas

Bad Ideas Podcast

English - November 29, 2019 18:59 - 28 minutes - 38.6 MB - ★★★★★ - 19 ratings
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John Law invented modern monetary policy when he saw the Dutch trading money on paper rather than with physical coins. He took his big ideas to France in 1720 convinced the Duke of Orleans to put him in charge of basically the entire French economy. He printed paper money, started a company, and set his sights on profiting from an unexplored area in the New World. Everything was great right up until everything was terrible.