USA HISTORY

THE ROAD TO REVOLUTION 1700 1774

THE AMERICAN ENLIGHTENMENT INTELLECTUAL AND SOCIAL REVOLUTION

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
The physiocrats focused on ____
A
government
B
economics
C
religion
D
philosophy
Explanation: 

Detailed explanation-1: -Physiocracy was a theory of wealth. The physiocrats, led by Quesnay, believed that the wealth of nations was derived solely from the value of agriculture. Quesnay’s understanding of value-added was rather primitive-he could not see, for example, how manufacturing could create wealth. Farmers, on the other hand, could.

Detailed explanation-2: -physiocrat, any of a school of economists founded in 18th-century France and characterized chiefly by a belief that government policy should not interfere with the operation of natural economic laws and that land is the source of all wealth. It is generally regarded as the first scientific school of economics.

Detailed explanation-3: -The most significant contribution of the physiocrats was their emphasis on productive work as the source of national wealth.

Detailed explanation-4: -The Physiocrats identified three classes of the economy: the “productive” class (agricultural laborers and farmers), the “sterile” class (industrial laborers, artisans and merchants) and the “proprietor” class (who appropriated the net product as rents). Incomes flowed from sector to sector, and thus class to class.

Detailed explanation-5: -François Quesnay was the leading figure of the Physiocrats, generally considered to be the first school of economic thinking.

There is 1 question to complete.