Loving the poor, saving the rich. Behavioural aspects and economic development of Jonh Law's bank runs

The long series of studies of John Law's monetary theory and practice point to two almost constant interpretations of the Controller General of the Duke of Orleans' finances. The first sees Law as an unscrupulous banker, a wizard of lies; the second, on the contrary, appreciates his efforts to create a new monetary system that would generate full employment in an economically compromised France. However, Law's creation of new credit institutions — different from the banks of the time — and the reasons for the unfortunate end to his social and economic life, have aroused little interest. This work thus offers an in-depth analysis of the theories expressed in his most important work, Money and Trade, by examining the Bank of Turin experience and the reasons Law's work failed in France due to the acquisition of national public debt.