physiocratic
/ˌfɪziəˈkrætɪk/
adjective
- Relating to the 18th-century economic theory that a nation's wealth comes from agriculture and natural resources, and that government should not interfere with the economy.
- Many early American leaders were influenced by physiocratic principles.
- The physiocratic school of thought believed that land was the only source of wealth.
- Her research focuses on physiocratic ideas about taxation and trade.