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13:41
Physiocracy and Free Trade in 18th-Century France | by Murray N. Rothbard
Audio version of the Mises Daily article for December 23, 2010. Written by Murray N. Rothb...
published: 16 Jan 2011
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Philosophes and Physiocrats
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published: 29 Jul 2012
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12 Enlightenment - The Physiocrats
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published: 06 Feb 2015
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Physiocracy in Mid-18th Century France: Strategy and Influence | by Murray N. Rothbard
Audio version of the Mises Daily article for February 3, 2011. Written by Murray N. Rothba...
published: 13 Feb 2011
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How to Pronounce Physiocrats
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published: 10 Jun 2014
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Age of Uncertainty Episode 1
The Prophets and Promise of Classical Capitalism. J K Galbraith's masterly account of the ...
published: 17 Sep 2011
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How to Pronounce Physiocrat
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published: 10 Jun 2014
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SAT Vocabulary Words and Definitions — Physiocracy
This video shows you how to say or pronounce Physiocracy and gives the definition of Physi...
published: 23 Dec 2014
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How to Pronounce Physiocracy
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2:40
Mercantilism Economics
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published: 03 Jun 2010
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ECONOMIC THEORY - BY VALDEMIR MOTA DE MENEZES
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published: 01 Mar 2013
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'Objective' Value and Cost of Production | by Murray N. Rothbard
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published: 13 Feb 2011
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Schools of economic thought
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published: 22 Nov 2014
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Physiocracy (from the Greek for "Government of Nature") is an economic theory developed by the Physiocrats, a group of economists who believed that the wealth of nations was derived solely from the value of "land agriculture" or "land development." Their theories originated in France and were most popular during the second half of the 18th century. Physiocracy is perhaps the first well-developed theory of economics.

The movement was particularly dominated by François Quesnay (1694–1774) and Anne-Robert-Jacques Turgot (1727–1781). It immediately preceded the first modern school, classical economics, which began with the publication of Adam Smith's The Wealth of Nations in 1776.

The most significant contribution of the Physiocrats was their emphasis on productive work as the source of national wealth. This is in contrast to earlier schools, in particular mercantilism, which often focused on the ruler's wealth, accumulation of gold, or the balance of trade. A chief weakness from the viewpoint of modern economics is that the theory only considered agricultural labor to be valuable. Physiocrats viewed the production of goods and services as consumption of the agricultural surplus, while modern economists consider these to be productive activities which add to national income.




This page contains text from Wikipedia, the Free Encyclopedia - http://en.wikipedia.org/wiki/Physiocracy

This article is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License, which means that you can copy and modify it as long as the entire work (including additions) remains under this license.