What does physiocrat mean?
A physiocrat is an economist who advocates for physiocracy, an economic theory that emphasizes the role of agriculture and natural resources in a nation's economy. Physiocrats believe that land is the primary source of wealth and that economic policies should focus on promoting agricultural productivity. The term physiocrat is often used to refer specifically to the 18th-century French economists who developed the theory of physiocracy, including influential thinkers such as François Quesnay and Honoré Mirabeau. Physiocrats were known for their emphasis on natural laws and their skepticism of government intervention in the economy. This school of thought had a significant impact on the development of modern economics.
nounA physiocrat is an advocate of physiocracy, an economic theory that emphasizes the role of agriculture and natural resources in a nation's economy.
- An advocate of physiocracy
- A member of a school of 18th-century French economists
"The physiocrat argued that land was the primary source of wealth and that economic policies should focus on promoting agricultural productivity."
"The physiocrats believed that economic policies should be based on natural laws rather than government intervention."
"Physiocrats such as Quesnay and Mirabeau were influential in shaping French economic policy during the Enlightenment."
The plural form is used to refer to multiple advocates of physiocracy.
"The physiocrats were a influential school of economists in 18th-century France."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Etymology of physiocrat
The term physiocrat comes from the Greek words 'physio', meaning 'natural', and 'kratos', meaning 'power' or 'rule'. The physiocrats were a school of 18th-century French economists who believed that economic policies should be based on natural laws rather than government intervention. The term was first used to describe the followers of François Quesnay, who is often considered the founder of physiocracy.
Usage notes
The term physiocrat is often used to refer specifically to the 18th-century French economists who developed the theory of physiocracy.