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The Mississippi Bubble was possibly the most consequential financial bubble in all of history. How was a murdering, jail breaking Scotsman given the keys to the French economy?
John Law was a flawed genius, like Alexander Hamilton in many ways. A lot of the episode is about him, and his unique understanding of the 3 foundations of modern economies, companies and their real activities, stock markets which allow claims to future values of those activities to be exchanged, and a central bank to finance the whole thing. We use the first example of this, pioneered by the Dutch to make it comprehensible.
