Physiocracy: Physiocracy was an 18th-century economic theory emphasizing natural order in agriculture as the primary source of wealth. It advocated for minimal government intervention in the economy, asserting that land was the sole source of wealth, with agricultural productivity being the key driver of economic growth, rejecting mercantilist policies in favor of free trade and low taxes on agriculture. See also Economics, Interventions, Economics growth._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. |