Gavin John Adams Quotes

“Like all financial schemes, the Mississippi Scheme was constructed upon the volatile foundation of confidence. For the public to continue to use the Banque Royale’s banknotes, it had to remain confident that those banknotes would retain and represent their stated face value. And for the public to continue to invest in Mississippi Company shares, it had to remain confident that the prospects of the Mississippi Company justified the market price of the shares.”
― Gavin John Adams, John Law: The Lauriston Lecture and Collected Writings

“John Law’s life and his Mississippi Scheme had followed an identical arc of trajectory. Law had been both the maker and breaker of the Mississippi Scheme just as the Mississippi Scheme had been both the maker and breaker of Law.”
― Gavin John Adams, John Law: The Lauriston Lecture and Collected Writings

“John Law’s 'Money and Trade Considered' is the most influential but least acknowledged work in the history of economics.”
― Gavin John Adams, John Law: The Lauriston Lecture and Collected Writings

“John Law’s role in resolving the Water Diamond Paradox has been largely forgotten. The name now associated with it is another Scottish economist, Adam Smith. Writing over seventy years after the publication of 'Money and Trade Considered', Smith’s celebrated restatement of the paradox of value, in 'An Inquiry into the Nature and Causes of the Wealth of Nations' is astonishing not for its originality, but for its similarity with John Law’s resolution decades before.”
― Gavin John Adams, John Law: The Lauriston Lecture and Collected Writings

“John Law left us with a legacy that continues to have a profound impact in the spheres of economics, public policy, finance, and, as a result, the very foundations upon which modern society has been constructed.”
― Gavin John Adams, John Law: The Lauriston Lecture and Collected Writings

“John Law was a first rate economist. His 'Money and Trade Considered' was a tremendous academic achievement that has formed the (unacknowledged) basis of many of the advancements in our understanding of the economic environment in which we all live.”
― Gavin John Adams, John Law: The Lauriston Lecture and Collected Writings