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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For example the French philosopher Francois Quesnay's famous theory from 1758 about a free economical system considered as a self-developing system according to certain laws, which provided the foundation of the ideas of physiocratism, were mentioned, and it was emphasized that these ideas also made the foundation of a mathematical description of a dynamical economic system, just as it is well known from physics.