Edward Chancellor is the author of Devil Takes the Hindmost: A History of Financial Speculation and the editor of Capital Returns: Investing Through the Capital Cycle: A Money Manager’s Reports 2002–15.
 (April 2019)


The Man Who Invented Money

A satirical engraving showing panic in Paris following the failure of John Law’s financial scheme, 1720

John Law: A Scottish Adventurer of the Eighteenth Century

by James Buchan
In 1694 a young Scotsman convicted of murder in London fled to the Continent. Two decades later he turned up in Paris, where he founded a national bank and headed a company that incorporated all of France’s overseas trading monopolies and absorbed the country’s entire national debt. The bank’s new …