Monday 13 February 2017

Macro Economics"Self-balancing" model: QUESNAY


What did Quesnay do?      

   


           The works of Physiocrats with  ''Natural Order'' to understndn all economic order, in a reasonable and consistent thought line it was the 'first try' to way of explain.This first try, at time same time beginning of economy theory. Although they are laissez-faire originates from the understanding of natural order, the physiocrats made a great contribution to the development of economic analysis and theory.


            Physiocrats,like mercantilist they were searcing ''Source of Wealth.'' but diffreent from mercantilist, they said ''Weatlh wasn't born from barter, it was born from agricultural production.''Their analysis, for the 'make wealth' and necessity of accumulation 'surplus', which led to the investigation of what was born of the production activity.This is the birth of the surplus,while examining the circulation among various classes of society,they consistently succeed in abstraction and model building.



We will continue with the Quesnay's ''Economic Table.''






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