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Physician. Plrysiocrnt: This is Frnncois Quesnsy, physician to Louis XV, pioneer inquantitat;~;i: ecouoniic relationships. His Tableau %konomique, showing how iuconx flowsll~rou~h the ecolmuic system.

.‘r O$:I~CC 111 Marie Antoinette’s Le Harueau at Versailles. In France agriculture was always.,:h n!i rlltlustry and 811 a r t f o rm .

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&lihtW&l (Classical School)

d Adam Smith b’%.4$~~lL~~ 1lflM%i?QllQ~L?~l The Wealth of Nations

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Adam Smith (1723-1790). Otten conrridered thetO&aUhf 01 fmdern l t000mlcs. Adam $mllh intluencedboth economlrts and governments for many decadesaltar he nroto.‘HIa central Idea: that thwe Is a baskharmony belween private sell-Interest and wcial weI-fan and. consequently. that the Stata should (withaoma Important exceptlow) Ieava the eco~cmy to theworltlngs d mmllrt competltlm.

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