1. French And American Revolution
The Physiocrats exerted a profound influence on Adam Smith, who had spent time in France in the 1760s and whose classic "The Wealth of Nations" embodied the Physiocratic attack on mercantilism and argued that nations get rich by practicing free trade. ... Embracing the principle of free trade not just as a temporary expedient, but as a philosophy, Turgot got the king to sign an edict in January 1776 that abolished the monopolies and special privileges of the guilds, corporations, and trading companies. ... Had Turgot been allowed to pursue his policies of free trade and less government interve...
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- Approx Pages: 11
- Grade Level: Undergraduate