ECO 3132 Lecture Notes - Lecture 8: Physiocracy
12 Dec 2017
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Classification of productive activities by sector: only the first of these three secors creates a physical surplus. The workers merely transform this surplus without adding anything in real terms: workers in agriculture produce more pecuniary wealth than they consume. The productive class produces the surplus for everyone. They need to engage in production, which will use land and machines, which will cant the process going like planting and harvesting. These machines will have wear and tear denoted by u. The sterile class will bake or something more advanced sold to the a class. A will buy from s to fix they"re (cid:373)a(cid:272)hi(cid:374)es a(cid:374)d (cid:271)uy from p to sustain themselves. The definition of net national income for quesnay income becomes the difference between the monetary value of general production and the monetary value of the reprieses.
