Chapter

John Law and Richard Cantillon: The First Mississippi Fortune — Phase One

Antoin E. Murphy

in Richard Cantillon: Entrepreneur and Economist

Published in print January 1989 | ISBN: 9780198286820
Published online November 2003 | e-ISBN: 9780191596681 | DOI: http://dx.doi.org/10.1093/0198286821.003.0005

Series: Clarendon Paperbacks

 John Law and Richard Cantillon: The First Mississippi Fortune — Phase One

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Cantillon's financial career was closely linked with that of John Law (1671–1729). Law wished to solve France's twin crises, the shortage of money and the high level of state indebtedness, through the establishment of a bank issuing paper money and a trading company to take over the national debt. Cantillon bought into the shares of the Mississippi Company at an early stage and made his first fortune by buying and selling its shares.

Keywords: General Bank; John Law; Mississippi System; national debt; paper money; shares; speculation

Chapter.  9625 words.  Illustrated.

Subjects: History of Economic Thought

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