Definition of physiocrat in English:
A member of an 18th-century group of French economists who believed that agriculture was the source of all wealth and that agricultural products should be highly priced. Advocating adherence to a supposed natural order of social institutions, they also stressed the necessity of free trade.
- However, the French physiocrats and the British classical economists entirely destroyed the rest of the mercantilist scheme.
- It can be traced in the theories of public finance to the work of the 18th century French physiocrats.
- Smith's view of taxes on land has been the general view among economists since then, and in fact one can trace Smith's argument to the French physiocrats who preceded him.
- Example sentences
- Chapters 2 to 11 provide surveys of traditional topics such as ancient Greek and medieval economics, mercantilism, physiocracy, political arithmetic, Adam Smith, classical economics, and Marx.
- The result was a new category of science whose original nomenclature, ‘physiocracy’ (the rule of nature), was discarded for that of ‘economics’ but then restored as other schools emerged, each with its distinctive emphasis.
- Example sentences
- It will be evident from the book's title that our attention is to be directed at those enlightenment authors who were roughly a generation younger than Quesnay and his physiocratic contemporaries.
- Government ministers, who found it impossible to reduce royal expenditures, were particularly seduced by the physiocratic idea of stimulating agriculture and then taxing the resulting wealth.
- It is a descriptive account, with occasional physiocratic remarks, that essentially transcribes documents from diverse origins, mainly the companies themselves.
Definition of physiocrat in:
- US English dictionary
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