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A history of economic doctrines

Note 45 — Chapter I · : THE PHYSIOCRATS

R. (Robert) Richards translation

They imagined that it was actually so. “On the one hand, we see the productive class living on a series of payments, which are given in return for its labour, and always bearing a close relation to the outlay upon its upkeep. On the other, there is nothing but consumption and annihilation of goods, but no production.” (Quesnay, p. 60.)

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