The Law-less Legacy of Global Capital
…in Paris). By 1715, leaders in Paris were ready to listen to Law’s radical new ideas. With Louis XIV dead, the Regency was forced to admit that the nation was utterly bankrupt: endless wars abroad; a coddled aristocracy at home; a mixture of inflation and debt that had brought the common people to their knees. What happened next led to Law’s creation of the first national bank of credit in France (the Banque Générale), the largest conglomerate in…
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