The physiocrats were a group of economists who believed that the wealth of nations was derived solely from the value of land agriculture or land development. Their use of the term laissez faire meant that the only legitimate form of government revenue derived from the value of land. Their theories originated in France and were most popular during the second half of the 18th century. Physiocracy is perhaps the first well developed theory of economics. The movement was particularly dominated by An… (More on Physiocrats)