John Law, Scottish-French economist and politician, Controller-General of Finances (born 1671)
John Law (economist)
John Law was a Scottish-French economist and financier. He rose to power in France where he created a novel financial scheme for French public finances known as Law's System with two institutions at its core, John Law's Bank and John Law's Company, ending in the devastating boom and bust "Mississippi Bubble" of 1720.
Controller-General of Finances
The Controller-General or Comptroller-General of Finances was the name of the minister in charge of finances in France from 1661 to 1791. It replaced the former position of Superintendent of Finances, which was abolished with the downfall of Nicolas Fouquet. It did not hold any real political power until 1665, when First Minister Jean-Baptiste Colbert, who had acted upon financial matters since Fouquet's embezzlement charge, was appointed to the office.