What are the major tenets of physiocratic school?

1. Natural order and laissez-faire: The physiocrats believed in a natural order that governed economic activity and that government interference in the economy should be kept to a minimum. They argued that the pursuit of individual self-interest would lead to the greatest good for society as a whole.

2. Land as the source of wealth: The physiocrats believed that all wealth was derived from land and that agriculture was the most productive sector of the economy. They argued that the government should encourage agriculture and remove barriers to trade in agricultural products.

3. Single tax on land: The physiocrats proposed a single tax on land as the most efficient and equitable way to raise revenue for the government. They argued that this tax would not discourage economic activity and would not lead to higher prices for consumers.

4. Free trade: The physiocrats were strong advocates of free trade and argued that restrictions on trade were harmful to the economy. They believed that free trade would allow for the most efficient allocation of resources and would lead to lower prices for consumers.

5. Economic growth: The physiocrats believed that economic growth was essential for the improvement of society and that the government should play a role in promoting growth. They argued that the government should invest in infrastructure and education and should encourage innovation.