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What were thinkers who looked for natural laws to explain economics called?
physiocrats
What were the Physiocrats and what economic policy did they argue for?
Physiocrats were a group of pre-classical economists in France who argued that the wealth of a country was made from the productive work of its labour, especially in agriculture. They advocated support and capital investment in agriculture.
What government policy did Physiocrats support?
the government policy they support was natural laws.
What did Adam smith argue was the Natural law that governed economic relationships?
The law of supply and demand. He also coined the term "The Invisible Hand"
The pros and cons of the mercantilism and physiocrats?
pros and cons about mercantilist and physiocrats
The pros and cons of physiocrats?
pros and cons of physiocrats
What is physiocrats?
A physiocrat is a member of a school of political 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.
How has natural law been corrupt?
Natural law theory has been criticized for being vague and susceptible to misinterpretation, leading to conflicting ethical conclusions. Some argue that it can be used to justify harmful actions by appealing to a supposed "natural order." Additionally, historical applications of natural law have been used to support oppressive practices, such as slavery, colonialism, and discrimination.
Do brother and sister argue?
Yes brothers and sisters argue, it's natural for children to to fight/argue
How were the physiocrats different from the mercantilists?
physiocrats focused on econimic reforms where as mecantilists focused on expoting more than importing
Who was the leader of the physiocrats?
francois quesnay
Who believes in laissez faire?
the physiocrats
