Quotes About Physiocrats

It was in the wake of these erosions of economic controls that intellectual challenges were then made to the role of government in the economy, first by the Physiocrats in France, who coined the term laissez-faire, and then by Adam Smith in Britain, who became its leading champion.

This is the political dimension of the mathematics of compound interest. It is the pro-rentier policy that the French Physiocrats and British liberals sought to reverse by clearing away the legacy of European feudalism.