Physiocracy is known as an economic system implemented during the eighteenth century which was characterized because it was believed that the source of money came solely and exclusively from natural origin, for this reason it was believed that agricultural exploitation was the source of greatest economic importance and therefore it was the one that generated wealth. According to his ideology, the market without the intervention of government entities, would have a perfect functioning naturally. The physiocratic school was created in France by François Quesnay in 1758. With regard to the etymological origin of the term, it comes from the languageGreek, and is composed of three elements, the first is "physis" which means nature, followed by "kratos" whose translation is power, and finally there is the suffix "ia", which means quality.
As mentioned above, the founding father of the Physiocratic school was François Quesnay, however alongside him were also Anne Robert Jacques Turgot, Anne Baron de Laune and Pierre Samuel du Pont de Nemours. According to his thinking, the correct development of the economy in a country would arise if the government did not intervene in such matters, in addition to this this system was also characterized because it was based solely on the exploitation of agriculture as a source of income, arguing that only in In this economic branch, the income could exceed the expenses required in the production process, which generated a surplus of wealth.
It is important to note that at that time the Industrial Revolution had not yet emerged, therefore there were no ways to confirm the viability that the industrial sector had in the economic development of the world. Physiocracy also stands out because it promotes a free market economy and where the state does not have any participation in economic matters.
This ideology was also shown in outright opposition to mercantilism, which is characterized by promoting a state that will be responsible for imposing protectionist measures, which implied that the state interferes in what was the production and distribution of goods and services, which generated a decrease in the economy and consequently wealth in general declined.
