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Illustration of the original visualisation of the Tableau by Quesnay, 1759. The Tableau économique (French pronunciation: [tablo ekɔnɔmik]) or Economic Table is an economic model first described by French economist François Quesnay in 1758, which laid the foundation of the physiocratic school of economics. [1]
François Quesnay (French: [fʁɑ̃swa kɛnɛ]; 4 June 1694 – 16 December 1774) was a French economist and physician of the Physiocratic school. [1] He is known for publishing the " Tableau économique " (Economic Table) in 1758, which provided the foundations of the ideas of the Physiocrats. [ 2 ]
The Tableau économique or Economic Table is an economic model first described by François Quesnay in 1759, which laid the foundation of the physiocrats’ economic theories. [16] It also contains the origins of modern ideas on the circulation of wealth and the nature of interrelationships in the economy. [6]
Illustration of the original visualisation of the tableau économique by Quesnay, 1758. The Tableau économique (Economic Table) of François Quesnay (1758), which laid the foundation of the Physiocrat school of economics is credited as the "first precise formulation" of interdependent systems in economics and the origin of multiplier theory. [3]
Among these economists, François Quesnay was known particularly for his development and use of tables he called Tableaux économiques. These tables have in fact been interpreted in more modern terminology as a Leontiev model, see the Phillips reference below.
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In 2003, Mohammad Gani, a pupil of Leontief, introduced consistency analysis in his book Foundations of Economic Science, which formally looks exactly like the input–output table but explores the dependency relations in terms of payments and intermediation relations. Consistency analysis explores the consistency of plans of buyers and sellers ...
Quesnay believed that trade and industry were not sources of wealth, and instead in his 1758 book Tableau économique (Economic Table) argued that agricultural surpluses, by flowing through the economy in the form of rent, wages, and purchases were the real economic movers, for two reasons.