physiocracy Definition
- 1an economic theory that emphasizes the role of agriculture as the primary source of wealth and the importance of free trade.
- 2a system of government according to which landowners have the exclusive right to develop their property and exploit its resources.
Using physiocracy: Examples
Take a moment to familiarize yourself with how "physiocracy" can be used in various situations through the following examples!
Example
The physiocracy movement emerged in France in the 18th century.
Example
Physiocracy was a precursor to classical liberalism.
Example
The physiocrats believed that the wealth of a nation depended on its agricultural productivity.
physiocracy Synonyms and Antonyms
Synonyms for physiocracy
Phrases with physiocracy
laissez-faire
a policy or attitude of letting things take their own course, without interfering.
Example
The physiocrats were advocates of laissez-faire economics.
tableau économique
a chart that shows the flow of goods and services in an economy.
Example
The physiocrats developed the tableau économique to illustrate their economic theories.
the resources and technology used in the production of goods and services.
Example
The physiocrats believed that the productive forces of agriculture were the basis of economic growth.
Origins of physiocracy
from Greek 'physis', meaning 'nature' and 'kratia', meaning 'power'
Summary: physiocracy in Brief
Physiocracy [fiz-ee-ok-ruh-see] is an economic theory that emphasizes the role of agriculture as the primary source of wealth and the importance of free trade. It emerged in France in the 18th century and was a precursor to classical liberalism. The physiocrats believed that the wealth of a nation depended on its agricultural productivity. Their ideas are associated with laissez-faire economics, the tableau économique, and the concept of productive forces.
