physiocratism


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physiocratism

the principles and doctrines of political economists following the ideas of Francois Quesnay in holding that an inherent natural order adequately controlled society and advocating a laissezfaire economy based on land as the best system to prevent interference with natural laws. — physiocrat, n. — physiocratic, adj.
See also: Politics
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Furthermore the economic philosophers Robert Jacques Turgot (1727-1781) and Adam Smith (1723-1790) were mentioned and theirs ideas of economical physiocratism and liberalism respectively.