Chapter

The Measures of 21 May 1720

Antoin E. Murphy

in John Law: Economic Theorist and Policy-maker

Published in print June 1997 | ISBN: 9780198286493
Published online November 2003 | e-ISBN: 9780191596674 | DOI: http://dx.doi.org/10.1093/019828649X.003.0017
 The Measures of 21 May 1720

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The attempt to cool down the System through the reduction of the value of shares and banknotes produced a dramatic loss of confidence in the System, and Law was put under house arrest. The complexities of running the System forced the Regent to bring Law back into power and to exile the Pâris brothers.

Keywords: arrest; banknotes; Mississippi System; Pâris brothers; shares

Chapter.  10255 words.  Illustrated.

Subjects: History of Economic Thought

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