History of Economic Thought (Economic Doctrines)

  1. The Physiocrats
    1. Historical Context
      1. Eighteenth Century France
        1. Agricultural Economy and Social Structure
          1. Reaction Against Mercantilism
            1. Influence of Natural Law Philosophy
            2. Core Principles of Physiocracy
              1. Natural Order (Ordre Naturel)
                1. Primacy of Agriculture
                  1. Product Net Theory
                    1. Laissez-faire Philosophy
                      1. Single Tax Proposal
                      2. Key Physiocratic Thinkers
                        1. François Quesnay
                          1. Tableau Économique
                            1. Three Classes Theory
                              1. Productive Class
                                1. Proprietary Class
                                  1. Sterile Class
                                  2. Circular Flow of Income
                                    1. Physiocratic Taxation Proposals
                                    2. Anne-Robert-Jacques Turgot
                                      1. Reflections on Formation and Distribution of Wealth
                                        1. Theory of Capital and Interest
                                          1. Diminishing Returns in Agriculture
                                            1. Free Trade Advocacy
                                            2. Pierre Samuel du Pont de Nemours
                                              1. Marquis de Mirabeau
                                              2. Physiocratic Policy Prescriptions
                                                1. Agricultural Improvement
                                                  1. Free Internal Trade
                                                    1. Single Tax on Land
                                                      1. Minimal Government Intervention
                                                      2. Influence and Decline of Physiocracy
                                                        1. Impact on Adam Smith
                                                          1. Influence on Classical Economics
                                                            1. Reasons for Decline
                                                              1. Legacy in Economic Thought

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                                                            3. Mercantilism and the Rise of the Nation-State

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                                                            5. The Classical School