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agrarian. This may be why they viewed agriculture as the primary source of a nation's wealth. This is an idea which
Quesnay purported to demonstrate with data, comparing a workshop to a farm. He analyzed "how money flowed between the three classes of farmers, proprietors, and artisans, in the same mechanical way that blood flows between different organs" and claimed only the farm produced a surplus that added to the nation's wealth. Physiocrats viewed the production of
1476:." Rather, they had to discover the laws of the natural order that would allow individuals to live in society without losing significant freedoms. This concept of natural order had originated in China. The Chinese had believed that there can be good government only when a perfect harmony exists between the "Way of Man" (governmental institutions) and the "Way of Nature" (Quesnay's natural order).
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benefit of others, they will work harder for their own benefit; however, each person's needs are being supplied by many other people. The system works best when there is a complementary relationship between one person's needs and another person's desires, and so trade restrictions place an unnatural barrier to achieving one's goals. Laissez-faire was popularized by physiocrat
1416:
1511:
None of the theories concerning the value of land could work without strong legal support for the ownership of private property. Combined with the strong sense of individualism, private property becomes a critical component of the
Tableau's functioning. The physiocrats believed in the institution of
1144:
Quesnay was likely influenced by his medical training, particularly by the work of
William Harvey who explained how blood flow and the circulatory system is vital to the human body; Quesnay held that the circulation of wealth was vital to the economy. Societies at the time were also overwhelmingly
1526:
Turgot was one of the first to recognize that "successive applications of the variable input will cause the product to grow, first at an increasing rate, later at a diminishing rate until it reaches a maximum." This was a recognition that the productivity gains required to increase national wealth
1494:
The physiocrats, especially Turgot, believed that self-interest was the motivation for each segment of the economy to play its role. Each individual is best suited to determine what goods they want and what work would provide them with what they want out of life. While a person might labor for the
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necessitated centralized, systematic information on the nation. A major innovation was the collection, use and interpretation of numerical and statistical data, ranging from trade statistics, harvest reports, and death notices to population censuses. Starting in the 1760s, officials in France and
1275:
and markets were connected by money flows (i.e. an expense for the buyer is revenue for the producer). Thus he realized that lowering prices in times of shortage – common at the time – was dangerous economically as it acted as a disincentive to production. Generally, Le Pesant advocated less
1396:
The model
Quesnay created consisted of three economic agents: the "proprietary" class consisted only of landowners; the "productive" class consisted of agricultural laborers; the "sterile" class was made up of artisans and merchants. The flow of production and cash between the three classes
1253:
Germany began increasingly to rely on quantitative data for systematic planning, especially regarding long-term economic growth. It combined the utilitarian agenda of "enlightened absolutism" with the new ideas being developed in economics. In
Germany the trend was especially strong in
1539:
recognized that capital was needed by farmers to start the production process, and both were proponents of using some of each year's profits to increase productivity. Capital was also needed to sustain the laborers while they produced their product. Turgot recognizes that there is
1136:. Whereas the mercantilist school of economics held that value in the products of society was created at the point of sale, by the seller exchanging his products for more money than the products had "previously" been worth, the physiocratic school of economics was the first to see
1512:
private property. They saw property as a tree and its branches, as social institutions. They actually stated that landlords must enjoy 2/5 on the land surpluses. They also advocated that landlords should be given dues, otherwise they would take the land away from the cultivators.
1279:
For instance, if the government bought corn abroad, some people would speculate that there was likely to be a shortage and would buy more corn, leading to higher prices and more of a shortage. This was an early example of advocacy of free trade. In anonymously published tracts,
1097:" and that agricultural products should be highly priced. Their theories originated in France and were most popular during the second half of the 18th century. Physiocracy became one of the first well-developed theories of economics.
1140:
as the sole source of value. However, for the physiocrats, only agricultural labor created this value in the products of society. All "industrial" and non-agricultural labors were "unproductive appendages" to agricultural labor.
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of the agricultural surplus, since human or animal muscle provided the main source of power and all energy derived from the surplus from agricultural production. Profit in capitalist production was really only the
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in 1759, which laid the foundation of the physiocrats’ economic theories. It also contains the origins of modern ideas on the circulation of wealth and the nature of interrelationships in the economy.
1318:
between France and
England (1756–63), the physiocracy movement grew. Several journals appeared, signaling an increasing audience in France for new economic ideas. Among the most important were the
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The physiocrats made a significant contribution in their emphasis on productive work as the source of national wealth. This contrasted with earlier schools, in particular
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and risk involved in using capital for something other than land ownership, and he promotes interest as serving a "strategic function in the economy."
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government interference in the grain market, as any such interference would generate "anticipations" which would prevent the policy from working.
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1216:) at the top and merchants at the bottom (because they did not produce but only distributed goods made by others). Leading physiocrats like
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philosophy which developed in the context of the predominantly rural, pre-industrial
European society of the time. In the late
44:, a physician who is considered the founding father of physiocracy, published the "Tableau Ă©conomique" (Economic Table) in 1758
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1197:, large plantations, for income. They circumvented this rule through freedmen proxies who sold surplus agricultural goods.
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French economists who believed that the wealth of nations derived solely from the value of "land agriculture" or "
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1267:'s local administration of Paris, and wrote pamphlets and booklets on subjects related to his work: taxation,
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originated with the proprietary class because they owned the land and bought from both of the other classes.
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on property and trade. Vauban's use of statistics contrasted with earlier empirical methods in economics.
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p.6, Reprinted with permission in China: A Teaching
Workbook, Asia for Educators, Columbia University
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who advocated China's agrarian policies. Some scholars have advocated connections with the school of
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1472:" that allowed human beings to live together. Men did not come together via a somewhat arbitrary "
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1240:. The concept natural order of physiocracy originated from "Way of Nature" of Chinese Taoism.
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1876:
Maverick, Lewis A. (1938). "Chinese
Influences Upon the Physiocrats". Economic History 3.
1288:: this involved major simplification of the French tax code by switching to a relatively
1111:(1727–1781) dominated the movement, which immediately preceded the first modern school,
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1840:, George Bannock, R. E. Baxter and Evan Davis. 5th Edition. Penguin Books 1992 p. 329.
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2179:
2140:"Theories of Surplus Value" from the Economic Manuscripts of 1861–1863" contained in
1985:
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978:
850:
810:
682:
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246:
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A history of economic doctrines from the time of the physiocrats to the present day
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to devote himself to political economy was undoubtedly his work on a manuscript of
1232:, was adopted from Quesnay's writings on China, being a translation of the Chinese
1221:
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obtained by the owner of the land on which the agricultural production took place.
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900:
840:
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551:
326:
236:
2156:
A History of
Economic doctrine from the time of the Physiocrats to the present day
1977:
1891:
Orientalism in Early Modern France: Eurasian Trade Exoticism and the Ancien Regime
2183:
2542:
1622:
1602:
1576:). The Single Tax is a proposal for the use of the annual rental value of land (
1268:
1228:, which promoted utopian communalism. One of the integral parts of physiocracy,
1180:
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885:
805:
294:
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211:
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1369:(1694–1774), was among those writing prolifically in contemporaneous journals.
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2007:
1132:, which often focused on the ruler's wealth, accumulation of gold, or the
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1573:
1323:
1289:
830:
737:
191:
101:
2167:, Oxford Economic Papers, New Series, Vol. 30, No. 1., pp. 150–156.
1161:"The physiocrats damned cities for their artificiality and praised more
2162:
2127:
1916:
Oriental Enlightenment: The Encounter Between Asian and Western Thought
1204:, then the largest in the world. Chinese society broadly distinguished
1162:
131:
2029:, Revised and Expanded Edition, Duke University Press. pp. 189, 195–96
1527:
had an ultimate limit, and, therefore, wealth could not be infinite.
1281:
1237:
1233:
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was not allowed to engage in banking or commerce but relied on their
1964:
Bertholet, Auguste (2020). "The intellectual origins of Mirabeau".
1165:
styles of living. They celebrated farmers." They called themselves
216:
1248:
The growing power of the centralized state control in the era of
2371:
2278:
2274:
1938:
Lars Behrisch, "Statistics and Politics in the 18th Century."
1409:
2142:
Collected Works of Karl Marx and Frederick Engels: Volume 30,
2128:"The Political Failure of an Economic Theory: Physiocracy"
1357:, brought together a group of young researchers including
1257:
while in France it was an important theme in physiocracy.
2224:, Chapter 5. in eds. Biddle, Jeff E, Davis, Jon B, &
2134:, Vol. 57, No. 6. (Nov. – Dec., 2002), pp. 855–883,
1810:
Karl Marx and Frederick Engels (1988), pp. 348, 355, 358.
2222:"Physiocracy and French Pre-Classical Political Economy"
1361:(1722–1800) and one of the two most famous physiocrats,
1334:(1759–62), which was heavily influenced by the Irishman
1940:
Historical Social Research/Historische Sozialforschung
1271:, and money. Le Pesant asserted that wealth came from
2021:
2019:
2017:
1580:) as the principal or sole source of public revenue.
1436:. Please help to ensure that disputed statements are
1340:
Journal de l'agriculture, du commerce et des finances
2839:
2583:
2471:
2438:
2431:
2405:
1696:
Pierre-Paul Lemercier de La Rivière de Saint-Médard
1790:
1788:
1786:
1784:
1552:The ideas of the Physiocrats had an influence on
2000:"Correspondance Mirabeau – Sacconay (1731–1787)"
1338:(1680–1734), both dominated by physiocrats; the
1593:which seeks to revive elements of physiocracy.
63:, du Pont advocated low tariffs and free trade.
2230:A Companion to the History of Economic Thought
2383:
2290:
1884:
1882:
1055:
8:
2080:"Economic Reform Platform | New Physiocrats"
2435:
2390:
2376:
2368:
2297:
2283:
2275:
1761:Bertholet, Auguste; Kapossy, BĂ©la (2023).
1537:Anne Robert Jacques Turgot, Baron de Laune
1499:who is said to have adopted the term from
1305:Essai sur la nature du commerce en général
1062:
1048:
69:
2144:New York: International Publishers, 1988.
2136:Institut National d'Études Démographiques
1738:. Oxford University Press. Archived from
1686:Honoré Gabriel Riqueti, comte de Mirabeau
1456:Learn how and when to remove this message
1432:Relevant discussion may be found on the
1389:is an economic model first described by
2327:Jacques Claude Marie Vincent de Gournay
2256:Economics as if Soil and Health Matters
2240:The History of Economic Thought Website
1723:
1261:Pierre Le Pesant, sieur de Boisguilbert
81:
1681:Victor de Riqueti, marquis de Mirabeau
1115:, which began with the publication of
59:, a prominent physiocrat. In his book
2553:Marxian critique of political economy
2164:Quesnay's Theory of Growth: A Comment
2039:Rist, Charles; Gide, Charles (1915).
1893:. Berg Publishers. pp. 271–272.
1468:The physiocrats thought there was a "
1359:François Véron Duverger de Forbonnais
1089:developed by a group of 18th-century
7:
1859:
1857:
1855:
1833:
1831:
1806:
1804:
1802:
1800:
1676:Jean Claude Marie Vincent de Gournay
1838:The Penguin Dictionary of Economics
2185:The Encyclopedia of Libertarianism
2058:"Constant, Sismondi et la Pologne"
1572:movement (not to be confused with
1085:for "government of nature") is an
25:
2271:– In Our Time – BBC Radio 4, 2013
2244:The New School of Social Research
2857:History of macroeconomic thought
2682:Neoclassical–Keynesian synthesis
2347:Pierre Samuel du Pont de Nemours
2250:Tableau Économique – Modern view
2214:, Revised and Expanded Edition,
2112:The Senate of the Roman Republic
1691:Pierre Samuel du Pont de Nemours
1414:
1029:
1017:
57:Pierre Samuel du Pont de Nemours
49:
34:
2210:Spiegel, Henry William (1983),
1889:Baghdiantz McCabe, Ina (2008).
1767:(in French). Geneva: Slatkine.
1480:Individualism and laissez-faire
2212:The Growth of Economic Thought
2027:The Growth of Economic Thought
1820:Why Americans Value Rural Life
27:School of thought in economics
1:
2847:Critique of political economy
2116:US Government Printing Office
2025:Henry William Spiegel (1983)
1978:10.1080/01916599.2020.1763745
821:Critique of political economy
479:Critique of political economy
2755:Rational expectations theory
1764:La Physiocratie et la Suisse
1200:Other inspiration came from
871:Periodizations of capitalism
2948:Schools of economic thought
2852:History of economic thought
2399:Schools of economic thought
2258:(Nisus Publications, 2017)
2056:Bertholet, Auguste (2021).
1584:The New Physiocratic League
1284:proposed a system known as
567:Simple commodity production
2964:
2772:New neoclassical synthesis
2760:Real business-cycle theory
2317:Anne Robert Jacques Turgot
2220:Steiner, Phillippe (2003)
1671:Anne Robert Jacques Turgot
1519:
1483:
1363:Anne-Robert-Jacques Turgot
1322:(1721–72), which promoted
1109:Anne-Robert-Jacques Turgot
876:Perspectives on capitalism
2312:
2254:Vinje, Victor Condorcet:
2062:Annales Benjamin Constant
2045:. D.C. Heath and Company.
1966:History of European Ideas
1918:. Routledge. p. 50.
1865:Chinese Ideas in the West
1794:Steiner (2003), pp. 61–62
1365:(1727–1781). The other,
147:Economic interventionism
2882:Post-autistic economics
2118:Senate Document 103–23.
1548:Subsequent developments
1346:(1767–72 and 1774–76).
1314:Around the time of the
1202:China's economic system
1105:the marquis de Mirabeau
816:Criticism of capitalism
2928:Preclassical economics
2620:Modern Monetary Theory
1942:(2016) 41#2: 238–257.
1643:Jeffersonian democracy
1503:'s writings on China.
1344:Ephémérides du citoyen
1263:served as a member of
1250:enlightened absolutism
1078:
846:Exploitation of labour
557:Primitive accumulation
2704:Keynes–Marx synthesis
2216:Duke University Press
2188:. Thousand Oaks, CA:
2161:Muller, A. L. (1978)
1954:Steiner (2003), p. 61
1914:Clarke, J.J. (1997).
1628:French Liberal School
1355:Intendant du commerce
1149:as equivalent to the
1122:The Wealth of Nations
1024:Capitalism portal
836:Culture of capitalism
791:Capitalist propaganda
547:Industrial Revolution
537:Commercial Revolution
2923:Classical liberalism
2892:World-systems theory
2872:Mainstream economics
2812:Technocracy movement
2792:Saltwater/freshwater
2234:Blackwell Publishing
2196:. pp. 378–379.
1613:Classical liberalism
1425:factual accuracy is
1091:Age of Enlightenment
999:Right-libertarianism
929:Classical liberalism
896:Venture philanthropy
532:Capitalism and Islam
527:Age of Enlightenment
122:Capital accumulation
2938:Land value taxation
2877:Heterodox economics
2605:Capability approach
2481:American (National)
2463:School of Salamanca
1863:Derk Bodde (2005),
1736:Oxford Dictionaries
1608:Classical economics
1578:land value taxation
1522:Diminishing returns
1516:Diminishing returns
1332:Journal du commerce
1295:The event that led
1210:scholar-bureaucrats
1113:classical economics
1036:Business portal
152:Economic liberalism
142:Competitive markets
2513:English historical
2226:Samuels, Warren J.
1591:political movement
1531:Investment capital
1497:Vincent de Gournay
1382:Tableau Ă©conomique
1374:Tableau Ă©conomique
1351:Vincent de Gournay
1342:(1765–74) and the
1320:Journal Ĺ’conomique
1214:agrarian landlords
1179:Physiocracy is an
1147:goods and services
796:Capitalist realism
187:Goods and services
167:Fictitious capital
2905:
2904:
2867:Political economy
2835:
2834:
2767:New institutional
2740:Neo-Schumpeterian
2548:Marxist economics
2528:German historical
2365:
2364:
2357:Victor de Riqueti
2352:Richard Cantillon
2124:Arundhati Virmani
2004:Lumières.Lausanne
1661:Richard Cantillon
1633:Geolibertarianism
1535:Both Quesnay and
1466:
1465:
1458:
1353:(1712–1759), the
1336:Richard Cantillon
1301:Richard Cantillon
1072:
1071:
891:Spontaneous order
861:History of theory
504:New institutional
474:Market monetarism
409:Economic theories
242:Supply and demand
177:Free price system
16:(Redirected from
2955:
2897:Economic systems
2436:
2418:Medieval Islamic
2392:
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2342:Pierre le Pesant
2322:François Quesnay
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2172:Smith, George H.
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2090:
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2047:
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2036:
2030:
2023:
2012:
2011:
2006:. Archived from
1996:
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1989:
1961:
1955:
1952:
1946:
1936:
1930:
1929:
1911:
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1904:
1886:
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1747:
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1666:François Quesnay
1564:, and above all
1562:John Stuart Mill
1542:opportunity cost
1507:Private property
1501:François Quesnay
1461:
1454:
1450:
1447:
1441:
1438:reliably sourced
1418:
1417:
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1391:François Quesnay
1367:François Quesnay
1316:Seven Years' War
1218:François Quesnay
1206:four occupations
1189:senatorial class
1134:balance of trade
1107:(1715–1789) and
1101:François Quesnay
1095:land development
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1021:
826:Critique of work
801:Capitalist state
484:Critique of work
367:Regulated market
269:Economic systems
222:Private property
172:Financial market
162:Entrepreneurship
157:Economic surplus
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42:François Quesnay
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2817:Thermoeconomics
2588:21st centuries)
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2413:Ancient schools
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2337:Nicolas Baudeau
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2269:The Physiocrats
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2122:Charbit, Yves;
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2084:New Physiocrats
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2015:
1998:
1997:
1993:
1963:
1962:
1958:
1953:
1949:
1937:
1933:
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1901:
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1849:Byrd (1995), 34
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1824:David B. Danbom
1818:
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1755:
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1742:on July 4, 2014
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1720:
1715:
1701:Nicolas Baudeau
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1484:Main articles:
1482:
1474:social contract
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1423:This article's
1419:
1415:
1408:
1403:
1401:Characteristics
1377:
1246:
1226:agriculturalism
1212:(who were also
1187:, the dominant
1177:
1168:les Économistes
1087:economic theory
1068:
1028:
1016:
1009:
1008:
914:
906:
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881:Post-capitalism
786:Anti-capitalism
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2203:978-1412965804
2202:
2194:Cato Institute
2180:Hamowy, Ronald
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2010:on 2020-05-31.
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2735:Neo-Ricardian
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2246:. 6 Feb. 2006
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2176:"Physiocracy"
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2148:Gide, Charles
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2014:
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1586:is a current
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1563:
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1558:David Ricardo
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1523:
1515:
1513:
1506:
1504:
1502:
1498:
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1490:Laissez-faire
1487:
1486:Individualism
1479:
1477:
1475:
1471:
1470:natural order
1460:
1457:
1449:
1446:November 2019
1439:
1435:
1429:
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1421:
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1411:
1406:Natural order
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1400:
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1222:Confucianists
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1103:(1694–1774),
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947:
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851:Globalization
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811:Crisis theory
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2652:Evolutionary
2584:Contemporary
2563:Neoclassical
2508:Distributist
2457:
2453:Mercantilism
2440:Early modern
2305:
2255:
2239:
2229:
2211:
2184:
2163:
2152:Charles Rist
2141:
2131:
2111:
2108:Byrd, Robert
2087:. Retrieved
2083:
2074:
2065:
2061:
2051:
2041:
2034:
2026:
2008:the original
2003:
1994:
1969:
1965:
1959:
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1934:
1915:
1909:
1890:
1872:
1845:
1837:
1819:
1815:
1763:
1756:
1744:. Retrieved
1740:the original
1735:
1732:"physiocrat"
1726:
1706:Henry George
1583:
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1566:Henry George
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1525:
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1467:
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1424:
1395:
1386:
1380:
1378:
1373:
1348:
1343:
1339:
1331:
1319:
1313:
1308:
1304:
1294:
1285:
1278:
1259:
1247:
1199:
1192:
1178:
1167:
1160:
1143:
1130:mercantilism
1127:
1120:
1099:
1079:physiocratie
1074:
1073:
901:Wage slavery
841:Evergreening
561:
552:Mercantilism
499:Neoclassical
327:Mercantilist
304:
237:Rent seeking
202:Visible hand
60:
18:Physiocratic
2933:Agrarianism
2918:Physiocrats
2807:Supply-side
2730:Neo-Marxian
2543:Marginalism
2473:Late modern
2458:Physiocrats
2306:Physiocrats
1623:Free market
1603:Agrarianism
1269:grain trade
1181:agrarianist
1151:consumption
1081:; from the
1075:Physiocracy
984:Objectivism
969:Libertarian
886:Speculation
806:Consumerism
640:Progressive
579:Development
562:Physiocracy
509:Supply-side
317:Libertarian
295:Free-market
275:Anglo-Saxon
257:Wage labour
212:Marginalism
182:Free market
137:Corporation
2912:Categories
2787:Regulation
2713:Monetarism
2699:Circuitism
2647:Ecological
2615:Chartalism
2595:Behavioral
2538:Manchester
2533:Malthusian
2491:Birmingham
2448:Cameralism
2432:Modern era
2406:Pre-modern
2132:Population
2101:References
2089:2018-03-05
1746:27 October
1570:Single Tax
1554:Adam Smith
1255:Cameralism
1220:were avid
1194:latifundia
1175:Precursors
1117:Adam Smith
964:Liberalism
949:Humanistic
934:Democratic
913:Ideologies
748:Schumpeter
494:Monetarist
425:Chartalism
372:Regulatory
347:Neoliberal
300:Humanistic
83:Capitalism
2862:Economics
2797:Stockholm
2672:Keynesian
2637:Cracovian
2586:(20th and
2575:Socialist
2558:Mutualism
2501:Ricardian
2496:Classical
1986:219747599
1972:: 91–96.
1618:Flour War
1434:talk page
1328:husbandry
1265:Louis XIV
1125:in 1776.
1077:(French:
1004:Third Way
994:Privatism
954:Inclusive
939:Dirigisme
733:von Mises
620:Illiberal
600:Corporate
595:Community
542:Feudalism
452:Keynesian
442:Classical
285:Corporate
97:Austerity
2943:Georgism
2887:Degrowth
2822:Virginia
2662:Freiburg
2657:Feminist
2610:Carnegie
2600:Buddhist
2568:Lausanne
2523:Georgism
2486:Austrian
2332:John Law
2174:(2008).
2110:(1995).
2068:: 78–81.
1638:Georgism
1597:See also
1588:Georgist
1574:Flat Tax
1427:disputed
1330:and the
1324:agronomy
1297:Mirabeau
1290:flat tax
831:Cronyism
743:Rothbard
718:Marshall
703:Friedman
635:Merchant
590:Consumer
585:Advanced
420:Austrian
415:American
342:National
337:Monopoly
290:Dirigist
192:Investor
102:Business
91:Concepts
75:a series
73:Part of
2840:Related
2627:Chicago
2236:, 2003.
2182:(ed.).
2126:(2002)
1244:History
1208:, with
1163:natural
959:Liberal
919:Anarcho
856:History
688:Malthus
683:Ricardo
645:Rentier
630:Marxist
610:Finance
521:Origins
489:Marxist
437:Chicago
397:Welfare
357:Private
312:Liberal
132:Company
117:Capital
2718:Market
2200:
2158:. 1915
1984:
1944:online
1922:
1897:
1771:
1654:People
1349:Also,
1282:Vauban
1238:wu wei
1234:Taoism
1156:"rent"
758:Weaver
753:Veblen
728:Walras
723:Pareto
713:Keynes
615:Global
382:Social
352:Nordic
322:Market
232:Profit
2694:Post-
2178:. In
1982:S2CID
1718:Notes
1236:term
1138:labor
1083:Greek
768:Coase
763:Weber
708:Hayek
673:Smith
605:Crony
467:Post-
387:State
377:Rhine
332:Mixed
252:Value
217:Money
2677:Neo-
2198:ISBN
2190:Sage
2150:and
1920:ISBN
1895:ISBN
1769:ISBN
1748:2013
1488:and
1379:The
738:Rand
698:Marx
678:Mill
625:Late
457:Neo-
2689:New
1974:doi
1822:by
1385:or
1303:'s
1119:'s
974:Neo
944:Eco
693:Say
462:New
430:MMT
362:Raw
2914::
2242:,
2232:.
2228::
2192:;
2130:,
2114:.
2082:.
2066:46
2064:.
2060:.
2016:^
2002:.
1980:.
1970:47
1968:.
1881:^
1854:^
1830:^
1799:^
1783:^
1734:.
1560:,
1556:,
1311:.
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2391:e
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2154:,
2092:.
1988:.
1976::
1928:.
1903:.
1777:.
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1440:.
1430:.
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1049:v
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