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14min chapter
History 1: Money and the stone coin at the bottom of the sea
Planet Money Summer School
John Law: The Gambler Who Changed Banking
This chapter chronicles the journey of John Law, a notorious gambler who sought to transform France's financial landscape amidst economic turmoil. It explores his revolutionary ideas on banking, the establishment of paper currency, and the rise and fall of his ambitious ventures with the Mississippi Company. Ultimately, the chapter illustrates the profound impact of Law's financial innovations and the chaos that ensued when they were put into practice.
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Listen to the best highlights from the podcasts you love and dive into the full episode