Physical and Practical Ideas of Physiocrats (With Diagram)
In this article we will discuss about the physical and practical ideas of physiocrats. Physical Ideas of Physiocrats: The Physiocrats contributed on the theoretical side, three important ideas, namely: 1. The concept of natural order. 2. The concept of net product. 3. The circulation of wealth. 1. Natural Order: The physiocrats had firm faith in the philosophy of natural order. [...]