• Turgot time period was from 1727 to 1781.
• He was born in a noble family of Normandy.
• As a younger son he was educated for the church, but after receiving his theological degree he decided instead to enter the judicial and administrative service, he rose in the ranks of government service until he became the finance minister of France in 1774.
• In less than 2 years in office he introduced anti-feudal and anti-mercantilist measures.
• His major contribution was that he ended the oppressive corvee, the 12 to 15 days of unpaid labour required of peasants yearly to maintain roads, bridges and canals.
• In the place of this curve he enacted a tax that all landowners had to pay.
• Turgot cut government spending drastically.
• He advocated a tax on the nobility, freedom of all people to choose their own occupations, universal education, religious liberty and creation of central bank.
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• Turgot said that rich capitalist tanent farmers are most capable of efficient farming because they have the capital to invest in the soil, they receive profits and the return of their investment with interest.
• The mercantilist used to say that there should be international trade instead of interregional trade, but Turgot said it is wrong we should help our community first. The poor societies.
• He gave the contribution of the economic theory in presenting the law of diminishing
• He was born in a noble family of Normandy.
• As a younger son he was educated for the church, but after receiving his theological degree he decided instead to enter the judicial and administrative service, he rose in the ranks of government service until he became the finance minister of France in 1774.
• In less than 2 years in office he introduced anti-feudal and anti-mercantilist measures.
• His major contribution was that he ended the oppressive corvee, the 12 to 15 days of unpaid labour required of peasants yearly to maintain roads, bridges and canals.
• In the place of this curve he enacted a tax that all landowners had to pay.
• Turgot cut government spending drastically.
• He advocated a tax on the nobility, freedom of all people to choose their own occupations, universal education, religious liberty and creation of central bank.
• …show more content…
• Turgot said that rich capitalist tanent farmers are most capable of efficient farming because they have the capital to invest in the soil, they receive profits and the return of their investment with interest.
• The mercantilist used to say that there should be international trade instead of interregional trade, but Turgot said it is wrong we should help our community first. The poor societies.
• He gave the contribution of the economic theory in presenting the law of diminishing