Part 8/9:
In the wake of this economic calamity, Law’s ideas, though tragically misapplied, laid the groundwork for modern monetary systems. He had proposed a radical understanding of economics—foreseeing the efficiency of paper money and sophisticated banking, yet the speculative frenzy he ignited revealed the inherent volatility of such systems.
Law never returned to regain his glory. He wandered through Europe, seeking new beginnings, but ultimately died under poverty in Venice in 1729. Despite this, his vision continues to influence contemporary financial practices; today, paper currency is ubiquitous, demonstrating how revolutionary ideas can transcend their negative fallout.