Which economic theory is Turgot associated with?
Physiocracy
Mercantilism
Socialism
Capitalism
Answer
Physiocracy, the economic theory associated with Turgot, emphasizes the importance of agriculture and natural resources as the primary sources of wealth. It advocates for a laissez-faire approach, believing that the economy functions best when free from government intervention. Physiocrats argue that the government's role should be limited to protecting property rights and enforcing contracts, allowing the natural order of the economy to prevail.
31 Anne Robert Jacques Turgot Questions: Can You Get a Perfect Score?
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