John Law: The Gambler Who Invented Modern Money (Part 1) | Merryn Talks Money
December 23, 2025
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33:13Now PlayingJohn Law: The Gambler Who Invented Modern Money (Part 1) | Merryn Talks Money
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as posted by the channelIn this special two-part series, John Stepek and Merryn Somerset Webb tell the extraordinary story of John Law: a fugitive Scots gambler who became the most powerful financier in France and helped invent the modern monetary system. From murder and exile to paper money, banking revolutions and spectacular collapse, Law’s life reveals why today’s financial system works the way it does—and why it sometimes blows up. It’s history, scandal and monetary theory rolled into one irresistible tale.
We used a range of sources for this podcast but two key books to read if you'd like to find out more are:
John Law: A Scottish Adventurer of the Eighteenth Century (2018), by James Buchan
John Law: Economic Theorist and Policy-Maker (1997), by Antoin Murphy
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