Here is the history of John Law and his ideas, the man associated with one of the most spectacular asset bubbles of all time.
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Did John Law's career inspire some prototypical public choice theorists? His career makes the movements of modern financial executives in and out of regulatory bodies look supremely discreet by comparison.
The first lecture in Before Adam Smith Part 1 said that Galileo wrote about the Diamond and Water Paradox. It was mentioned again in this lecture but not attributed to Galileo. By inference, however, it appears attributed to Law but "notably associated with Adam Smith." My question is was Galileo the first one to write about this Paradox or was it a theory even before him? Who should receive the original credit?
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