Mercantilism and physiocracy are two different systems that comprise of ideas involving wealth in the economy. Each system has different views on how wealth starts, and how much government involvement is necessary to have a successful economy. Mercantilists believe in a government regulated national economy with views to accumulate gold and silver, especially by achieving a balance of exports over imports. They believe to become wealthy you must take the wealth from someone else. You …
showed first 75 words of 210 total

showed last 75 words of 210 total
…starts everything. The meaning of the word physiocrates is earth rulers. Agriculture is the only enterprise that creates new wealth; wealth that flows through the economy like blood flows through the body. Students following Francos Quesnay believe that an inherent natural order properly governed society, regarding land as a basis of wealth and taxation, and advocating Laissez Faire economy. The Laissez Faire Economy, or Invisible Hand Concept, concludes that wealth will multiply without government help.