Definitions for Physiocracy
phys·ioc·ra·cy

WikipediaRate this definition:0.0 / 0 votes

1. Physiocracy

   Physiocracy (French: physiocratie; from the Greek for "government of nature") is an economic theory developed by a group of 18th-century Age of Enlightenment French economists who believed that the wealth of nations derived solely from the value of "land agriculture" or "land development" 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. François Quesnay (1694–1774), the marquis de Mirabeau (1715–1789) and Anne-Robert-Jacques Turgot (1727–1781) dominated the movement, which immediately preceded the first modern school, classical economics, which began with the publication of Adam Smith's The Wealth of Nations in 1776. 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 mercantilism, which often focused on the ruler's wealth, accumulation of gold, or the balance of trade. 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 labor 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.Quesnay was likely influenced by his medical training. The earlier work of William Harvey had 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 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 goods and services as equivalent to the consumption 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 "rent" obtained by the owner of the land on which the agricultural production took place."The physiocrats damned cities for their artificiality and praised more natural styles of living. They celebrated farmers." They called themselves les Économistes, but are generally referred to as "physiocrats" to distinguish their beliefs from the many schools of economic thought that followed.

WikidataRate this definition:5.0 / 1 vote

1. Physiocracy

   Physiocracy 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 and Anne-Robert-Jacques Turgot. 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. At the time the Physiocrats were formulating their ideas, economies were almost entirely agrarian. That is presumably why the theory considered only agricultural labor to be valuable. Physiocrats viewed the production of goods and services as consumption of the agricultural surplus, since the main source of power was from human or animal muscle and all energy was derived from the surplus from agricultural production.

Chambers 20th Century DictionaryRate this definition:0.0 / 0 votes

1. Physiocracy

   fiz-i-ok′rā-si, n. the economic doctrine of the physiocrats (François Quesnay, 1694-1744, and his followers), that society should be governed by a natural order inherent in itself, land and its products the only true source of wealth, direct taxation of land the only proper source of revenue.—n. Phys′iocrat, one who maintains these opinions.—adj. Physiocrat′ic.—n. Physioc′ratism. [Gr. physis, nature, kratein, to rule.]

How to pronounce Physiocracy?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say Physiocracy in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of Physiocracy in Chaldean Numerology is: 8

2. Pythagorean Numerology

   The numerical value of Physiocracy in Pythagorean Numerology is: 7

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Physiocracy
2. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=Physiocracy
3. ^ Chambers 20th Century Dictionary
   https://www.gutenberg.org/files/37683/37683-h/37683-h.htm#:~:text=Physiocracy