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

Franklin Serrano and Numa Mazat

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Physiocracy; Capitalist Agrarian Economy; Surplus Approach; Classical Political Economy (search for similar items in EconPapers)
JEL-codes: B11 B12 (search for similar items in EconPapers)
Date: 2013-06-20
New Economics Papers: this item is included in nep-hme and nep-hpe
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