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Physiocracy was an early (eighteenth century) economic theory prevalent in France which considered agriculture the prime source of wealth and both manufacturing and trade as sterile. It held that the function of government was to give effect to "natural law". Their maxim, laissez faire, laissez passer, gave impetus to free enterprise ideas.[1]


  1. Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-08-20.

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