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Physiocratic
Physiocracy (; from the Greek for "government of nature") is an economic theory developed by a group of 18th-century Age of Enlightenment French economists who believed that the wealth of nations derived solely from the value of "land agriculture" or "land development" and that agricultural products should be highly priced. Their theories originated in France and were most popular during the second half of the 18th century. Physiocracy became one of the first well-developed theories of economics. François Quesnay (1694–1774), the marquis de Mirabeau (1715–1789) and Anne-Robert-Jacques Turgot (1727–1781) dominated the movement,Steiner (2003), pp. 61–62 which immediately preceded the first modern school, classical economics, which began with the publication of Adam Smith's '' The Wealth of Nations'' in 1776. The physiocrats made a significant contribution in their emphasis on productive work as the source of national wealth. This contrasted with earlier schools, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adam Smith
Adam Smith (baptized 1723 – 17 July 1790) was a Scottish economist and philosopher who was a pioneer in the thinking of political economy and key figure during the Scottish Enlightenment. Seen by some as "The Father of Economics"——— or "The Father of Capitalism",———— he wrote two classic works, '' The Theory of Moral Sentiments'' (1759) and ''An Inquiry into the Nature and Causes of the Wealth of Nations'' (1776). The latter, often abbreviated as ''The Wealth of Nations'', is considered his '' magnum opus'' and the first modern work that treats economics as a comprehensive system and as an academic discipline. Smith refuses to explain the distribution of wealth and power in terms of God’s will and instead appeals to natural, political, social, economic and technological factors and the interactions between them. Among other economic theories, the work introduced Smith's idea of absolute advantage. Smith studied social philosophy at the University of Gl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between ratio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Theory
Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on these elements. Other broad distinctions within economics include those between positive economics, describing "what is", and normative economics, advocating "what ought to be"; between economic theory and applied economics; between rationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Wealth Of Nations
''An Inquiry into the Nature and Causes of the Wealth of Nations'', generally referred to by its shortened title ''The Wealth of Nations'', is the '' magnum opus'' of the Scottish economist and moral philosopher Adam Smith. First published in 1776, the book offers one of the world's first collected descriptions of what builds nations' wealth, and is today a fundamental work in classical economics. By reflecting upon the economics at the beginning of the Industrial Revolution, the book touches upon such broad topics as the division of labour, productivity, and free markets. History ''The Wealth of Nations'' was published in two volumes on 9 March 1776 (with books I–III included in the first volume and books IV and V included in the second), during the Scottish Enlightenment and the Scottish Agricultural Revolution. It influenced several authors and economists, such as Karl Marx, as well as governments and organizations, setting the terms for economic debate and discussion ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anne-Robert-Jacques Turgot
Anne Robert Jacques Turgot, Baron de l'Aulne ( ; ; 10 May 172718 March 1781), commonly known as Turgot, was a French economist and statesman. Originally considered a physiocrat, he is today best remembered as an early advocate for economic liberalism. He is thought to be the first economist to have recognized the law of diminishing marginal returns in agriculture. Education Born in Paris, Turgot was the youngest son of Michel-Étienne Turgot, " provost of the merchants" of Paris, and Madeleine Francoise Martineau de Brétignolles, and came from an old Norman family. As one of four children, he had a younger sister and two older brothers, one of whom, Étienne-François Turgot (1721–1789), was a naturalist, and served as administrator of Malta and governor of French Guiana. Anne Robert Jacques was educated for the Church, and at the Sorbonne, to which he was admitted in 1749 (being then styled ''abbé de Brucourt''). He delivered two remarkable Latin dissertations, ''On ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Agrarianism
Agrarianism is a political and social philosophy that has promoted subsistence agriculture, smallholdings, and egalitarianism, with agrarian political parties normally supporting the rights and sustainability of small farmers and poor peasants against the wealthy in society. In highly developed and industrial nations or regions, it can denote use of financial and social incentives for self-sustainability, more community involvement in food production (such as allotment gardens) and smart growth that avoids urban sprawl, and also what many of its advocates contend are risks of human overpopulation; when overpopulation occurs, the available resources become too limited for the entire population to survive comfortably or at all in the long term. Philosophy Some scholars suggest that agrarianism values rural society as superior to urban society and the independent farmer as superior to the paid worker, and sees farming as a way of life that can shape the ideal social values. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural
Nature, in the broadest sense, is the physical world or universe. "Nature" can refer to the phenomena of the physical world, and also to life in general. The study of nature is a large, if not the only, part of science. Although humans are part of nature, human activity is often understood as a separate category from other natural phenomena. The word ''nature'' is borrowed from the Old French ''nature'' and is derived from the Latin word ''natura'', or "essential qualities, innate disposition", and in ancient times, literally meant " birth". In ancient philosophy, ''natura'' is mostly used as the Latin translation of the Greek word '' physis'' (φύσις), which originally related to the intrinsic characteristics of plants, animals, and other features of the world to develop of their own accord. The concept of nature as a whole, the physical universe, is one of several expansions of the original notion; it began with certain core applications of the word φύσις by pre- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David B
David Robert Jones (8 January 194710 January 2016), known professionally as David Bowie ( ), was an English singer-songwriter and actor. A leading figure in the music industry, he is regarded as one of the most influential musicians of the 20th century. Bowie was acclaimed by critics and musicians, particularly for his innovative work during the 1970s. His career was marked by reinvention and visual presentation, and his music and stagecraft had a significant impact on popular music Popular music is music with wide appeal that is typically distributed to large audiences through the music industry. These forms and styles can be enjoyed and performed by people with little or no musical training.Popular Music. (2015). ''Funk .... Bowie developed an interest in music from an early age. He studied art, music and design before embarking on a professional career as a musician in 1963. "Space Oddity", released in 1969, was his first top-five entry on the UK Singles Chart. Afte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economist
An economist is a professional and practitioner in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophical theories to the focused study of minutiae within specific markets, macroeconomic analysis, microeconomic analysis or financial statement analysis, involving analytical methods and tools such as econometrics, statistics, economics computational models, financial economics, mathematical finance and mathematical economics. Professions Economists work in many fields including academia, government and in the private sector, where they may also "study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes. They assess this information using advanced methods in statistical analysis, mathematics, computer programming n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
François Quesnay
François Quesnay (; 4 June 1694 – 16 December 1774) was a French economist and physician of the Physiocratic school. He is known for publishing the " Tableau économique" (Economic Table) in 1758, which provided the foundations of the ideas of the Physiocrats. This was perhaps the first work attempting to describe the workings of the economy in an analytical way, and as such can be viewed as one of the first important contributions to economic thought. His ''Le Despotisme de la Chine'', written in 1767, describes Chinese politics and society, and his own political support for enlightened despotism. Life Quesnay was born at Méré near Versailles, the son of an advocate and small landed proprietor. Apprenticed at the age of sixteen to a surgeon, he soon went to Paris, studied medicine and surgery there, and, having qualified as a master-surgeon, settled down to practice at Mantes. In 1737 he was appointed perpetual secretary of the academy of surgery founded by Franço ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumption (economics)
Consumption is the act of using resources to satisfy current needs and wants. It is seen in contrast to investing, which is spending for acquisition of ''future'' income. Consumption is a major concept in economics and is also studied in many other social sciences. Different schools of economists define consumption differently. According to mainstream economists, only the final purchase of newly produced goods and services by individuals for immediate use constitutes consumption, while other types of expenditure — in particular, fixed investment, intermediate consumption, and government spending — are placed in separate categories (see consumer choice). Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g. the selection, adoption, use, disposal and recycling of goods and services). Economists are particularly interested in the relationshi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roman Republic
The Roman Republic ( la, Res publica Romana ) was a form of government of Rome and the era of the classical Roman civilization when it was run through public representation of the Roman people. Beginning with the overthrow of the Roman Kingdom (traditionally dated to 509 BC) and ending in 27 BC with the establishment of the Roman Empire, Rome's control rapidly expanded during this period—from the city's immediate surroundings to hegemony over the entire Mediterranean world. Roman society under the Republic was primarily a cultural mix of Latin and Etruscan societies, as well as of Sabine, Oscan, and Greek cultural elements, which is especially visible in the Roman Pantheon. Its political organization developed, at around the same time as direct democracy in Ancient Greece, with collective and annual magistracies, overseen by a senate. The top magistrates were the two consuls, who had an extensive range of executive, legislative, judicial, military, and religious powe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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