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Quesnay and the analysis of the surplus in an agrarian capitalist economy

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  • Serrano, Franklin
  • Mazat, Numa

Abstract

In order to discuss the ‘rational foundation’ of certain aspects of Quesnay´s theory we use a simple formalization of the necessary connections between assumptions about the techniques in use, the distribution of income between the classes and sectors, the system of relative prices. We argue that Quesnay´s system was a truly capitalist agrarian economy and that he was indeed a pioneer of the classical political economy/surplus approach to economics as identified first by Marx, Sraffa and Garegnani, the physical surplus of grains being the necessary basis for his analysis of the distribution and relative prices.

Suggested Citation

  • Serrano, Franklin & Mazat, Numa, 2013. "Quesnay and the analysis of the surplus in an agrarian capitalist economy," MPRA Paper 47781, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:47781
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    File URL: https://mpra.ub.uni-muenchen.de/47781/1/MPRA_paper_47781.pdf
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    References listed on IDEAS

    as
    1. Brewer, Anthony, 2011. "The Concept Of An Agricultural Surplus, From Petty To Smith," Journal of the History of Economic Thought, Cambridge University Press, vol. 33(4), pages 487-505, December.
    2. Jean Cartelier, 1991. "L'économie politique de François Quesnay. À propos d'un ouvrage de G. Vaggi," Revue Économique, Programme National Persée, vol. 42(5), pages 923-926.
    3. Muller, A L, 1978. "Quesnay's Theory of Growth: A Comment," Oxford Economic Papers, Oxford University Press, vol. 30(1), pages 150-156, March.
    4. Gianni Vaggi, 1983. "The Physiocratic Theory Of Prices," Contributions to Political Economy, Oxford University Press, vol. 2(1), pages 1-22.
    5. Vaggi, Gianni, 1985. "A Physiocratic Model of Relative Prices and Income Distribution," Economic Journal, Royal Economic Society, vol. 95(380), pages 928-947, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Physiocracy; Capitalist Agrarian Economy; Surplus Approach; Classical Political Economy;
    All these keywords.

    JEL classification:

    • B11 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Preclassical (Ancient, Medieval, Mercantilist, Physiocratic)
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)

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