14 févr. 1710 - Physiocracy is a theory where the wealth of nations is derived solely from the value of agriculture. The theory flourished during the Enlightenment Era when thinkers started apply scientific principles to the natural world and society. At the time, economies were almost entirely agrarian and that is the reason for the emphasis on agricultural labor by physiocrats. Manufactures and foreign trade was rejected.
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Date:
14 févr. 1710
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~ Il y a 315 ans