1727- 1781ParisFrench economist, politician, writer.Physiocracy main ideas economic liberalism
Introduction
Born into oldest families in NormandyAncestors long served the king ( Law officials,
publicAdministrators)He was educated in theology in Sorbonne Developed interest in economy from
friendship with Marquis de Gournay (french economist),
stepped away from the churchInterest in physiocracy
Biography
Defined the development of ideasHow ideas with time , will improve and
progressFor example sciences, mathematics and other
subjects will develop and improve over time
Idea of progress
French society had unequal taxesPeasent, Borgouis paid taxesPrivelidged did not pay taxesHe wanted to make equal taxesEveryone pays the same amount of tax
Liberal taxes
Made free trade of grains and flour in the country.
Free import and duty-free export of grain from the kingdom
Process developed independent economy for the citizens
Internal freedom of trade
Guilds control the different marketsBakers = baker guild
Started to control guilds, because they inhibit entrepreneurship in the industrial sector
Guild controls
The price of any good will varyThe Price depends on the demand from
consumersthere is no "true price" toward which the
market tends
Theory of price
“Reflections on the formation and distribution of riches” 1770
Interactions between capital, labor , landBasics of classical economyFive articles in the encyclopedia
Writings
Reduce government expensesRemoved the corvee (forced peasants labor)Implement taxes to the privileged No tax increase for peasants1775, inferred free domestic trade of grain, resulted in grain riots “No bankrupsy, no increase in taxes, no borrowing “Forced to resign 1776
2 Years as Finance Minister
Conclusion Physiocratic Liberal Thinker Attempted to implement Change in The French
Economy and society Free trade, Equal taxes, cut expenses in
Monarchy, He abolished forced labor. Ideas influenced the New French republic
economic set up Ideas of the economic benefits of the land as
wholeIdeas became the base of classical economy,
influenced later economists such as Adam smith .
Conclusion
Works Cited 1968, "Turgot, Anne Robert Jacques” International Encyclopedia of the Social Sciences., "Anne Robert Jacques Turgot."
Encyclopedia of World Biography. 2004, and "Turgot, Anne Robert Jacques." The Columbia Encyclopedia, 6th Ed.. 2013. "Turgot, Anne Robert Jacques.“ Encyclopedia.com. HighBeam Research, 01 Jan. 1968. Web. 16 Nov. 2013. <http://www.encyclopedia.com/topic/Anne_Robert_Jacques_Turgot.aspx>. "Anne Robert
Jacques Turgot." The Free Dictionary. Farlex, n.d. Web. 16 Nov. 2013. <http://www.thefreedictionary.com/Anne Robert Jacques Turgot>. "Anne Robert Jacques
Turgot, Who First Put Laissez-Faire Principles into Action." : The Freeman : Foundation for Economic Education. N.p., n.d. Web. 16 Nov. 2013.
<http://www.fee.org/the_freeman/detail/anne-robert-jacques-turgot-who-first-put-laissez-faire-principles-into-action>. "Arcades Awakening." Arcades Awakening. N.p., n.d. Web. 16 Nov. 2013.
<http://arcadesawakening.wordpress.com/category/n-on-the-theory-of-knowledge-theory-of-progress/>. "Guild | Easy to Understand Definition of Guild by Your Dictionary." Guild | Easy to Understand Definition of Guild by Your Dictionary. N.p., n.d. Web. 16 Nov. 2013.
<http://www.yourdictionary.com/guild>. "Turgot, Anne Robert Jacques." - Enlightenment Revolution. N.p., n.d. Web. 16 Nov. 2013.
<http://enlightenment-revolution.org/index.php/Turgot,_Anne_Robert_Jacques>.
Bibliography
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