Odd Lots Merryn Talks Money: John Law, The Gambler Who Invented Modern Money (Part 1)
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Dec 26, 2025 Dive into the wild life of John Law, a rogue Scotsman who became a major player in France's financial revolution. Discover how his upbringing shaped his innovative monetary ideas and his foray into gambling led to a duel and murder charges. Follow his escape across Europe as he refined his theories on money and trade, proposing revolutionary concepts like the land bank. This tale intertwines history, scandal, and economics, revealing the roots of our modern monetary system.
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Raised In A Goldsmith-Banking Household
- John Law grew up in a goldsmith family where his mother ran the banking side after his father's death.
- That upbringing exposed him early to lending and the dual nature of gold as object and money.
Fatal Duel That Made Him A Fugitive
- At 23, Law stabbed Edward
Gambling Skills Became Monetary Theory
- While on the run Law studied banking and monetary problems across Europe and learned probability from gambling.
- That mix of practical finance and statistics shaped his later monetary experiments in France.
