Century Quote by Andrew Dickson White
![“This whole theory [of John Law and Jean Terrasson], as dear to French financial schemers in the eighteenth century as to American "Greenbackers" in the nineteenth, had resulted, under the Orleans Regency and Louis XV, in ruin to France financially and morally, had culminated in the utter…” quote by Andrew Dickson White](https://sms4smile.com/quotes/img-quotes/179/andrew-dickson-white-24254_century_this-whole-theory-of-john-law-and-jean-t_530736.jpg)
“This whole theory [of John Law and Jean Terrasson], as dear to French financial schemers in the eighteenth century as to American "Greenbackers" in the nineteenth, had resulted, under the Orleans Regency and Louis XV, in ruin to France financially and morally, had culminated in the utter destruction of all prosperity, the rooting out of great numbers of the most important industries, and the grinding down of the working people even to starvation.”
About This Quote
Source Book: History of the Warfare of Science, 1896
The quote warns that speculative financial schemes caused widespread economic ruin and social suffering in France.
In simple terms: Speculative finance devastated France’s economy and people.
Key Takeaway
Beware of reckless financial speculation.
Themes
economics
history
politics
social justice
Mood
cautionary
somber
Type
historical
analytical
When to use this quote
- policy making
- financial regulation
- historical analysis
- public education
Key Concepts
speculative bubbles
financial crises
morality of capitalism
Questions to Reflect On
- What safeguards can prevent modern financial bubbles?
- How did ordinary citizens survive such crises?
A Different Perspective
It overlooks positive reforms that also occurred in the same era.
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![“[Cornell University will be] an asylum for Science—where truth shall be sought for truth's sake, not stretched or cut exactly to fit Revealed Religion.” quote by Andrew Dickson White](https://sms4smile.com/quotes/img-quotes/f23/andrew-dickson-white-24254_cornell_cornell-university-will-be-an-asylum-for_1362392.jpg)
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