The Physiocrats believed that wealth came exclusively from the land, that nature was fecund and man could harness its reproductive forces. Capital investments in agriculture and hard work would create profits that circulated to other sectors and supported all social institutions. Physiocracy, which originated in late eighteenth-century France, is therefore widely considered a forerunner of modern economic theory. The Physiocrats and the World of the Enlightenment places the Physiocrats in context by inscribing economic theory within broader Enlightenment culture. Liana Vardi discusses three...
The Physiocrats believed that wealth came exclusively from the land, that nature was fecund and man could harness its reproductive forces. Capital inv...