Anaxagoras
Banned
Naval strength is based less on manpower and natural resources than it is on reliable financial institutions. The main factor that hindered France from developing as powerful a navy as Britain or the Netherlands was that it lagged very far behind both nations in developing an effective bond market with which to fund a national debt.
If John Law's financial reforms in France in the early 18th Century had not gotten carried away into the Mississippi Company bubble, the good things he had done might have taken root and given France a more solid financial infrastructure for the next century, If that had been the case, France would have had no trouble being both a major land power and a world class naval power.
If John Law's financial reforms in France in the early 18th Century had not gotten carried away into the Mississippi Company bubble, the good things he had done might have taken root and given France a more solid financial infrastructure for the next century, If that had been the case, France would have had no trouble being both a major land power and a world class naval power.