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The Physiocrats: French Precursors to Classical Economics and Laissez Faire

  • Bradley K. Hobbs and Nikolai G. Wenzel EMAIL logo

Abstract

The eighteenth-century Physiocrats are widely considered to be precursors to classical economics, the French ninteenth-century Economistes, and contemporary free-market economics. They advocated free trade against mercantilism, and natural law against despotism. Although the Physiocrats also contributed to Walras and modern economic engineering, they fit squarely within the French (and world) liberal tradition.


Corresponding author: Nikolai G. Wenzel, Distinguished Professor of Economics, Fayetteville State University, Fayetteville, USA, E-mail:

This essay is drawn, sometimes verbatim, from Hobbs and Wenzel (2018), with the editor’s permission. For feedback and comments, the authors wish to thank Charles N. Steele, David Hart, and the late Leonard P. Liggio; we also thank participants at the 2013 meetings of the Southern Economic Association and the Association of Private Enterprise Education, and an anonymous reviewer. The usual disclaimer applies.


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Received: 2022-11-08
Accepted: 2022-11-09
Published Online: 2022-11-28

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