FRANCOIS QUESNAY:
Refer also to the paper on Physiocracy
THE PHYSIOCRATS
þ FRANCOIS QUESNAY --> ALL WEALTH FROM AGRICULTURE
--> FARMERS PAY RENT, WAGES, PURCHASES -->
SUPPORTS ALL SOCIAL CLASSES.
þ REG OF INDUSTRY & TRADE IMPEDED ECONOMIC
DEVELOPMENT BY HINDERING FLOW OF COMMODITIES &
INCOME.
þ ALL TAXES SHOULD BE PAID BY LANDOWNERS, NOT
FARMERS. WHY? LANDOWNERS NOT PRODUCTIVE. THEIR
LUXURIOUS WAYS DISTORTED FLOW OF INCOME.
þ PHYSIOCRATS --> INFLUENCED JEFFERSON & LINCOLN IN
THE U.S.