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John Law

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John Law

John Law (baptized 21 April 1671 - 21 March 1729) was a Scottish economist who believed that money was only a means of exchange that did not have wealth in itself, and that national wealth depended on trade. He is said to be the father of finance, responsible for the adoption or use of paper money or bills in the world today.


  • Millionaire: The Philanderer, Gambler, and Duelist Who Invented Modern Finance by Janet Gleeson (2000). (

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    ISBN 0-684-87295-1)
  • Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay. First published 1841, and still available.

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