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--- economic_value-m_mazzucato_-_ted [2025/10/26 12:42] – created 49.47.0.103
+++ economic_value-m_mazzucato_-_ted [2025/10/26 13:02] (current) – 49.47.0.103
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-years ago.
+years ago. Now, what was interesting 300 years ago is the society was still an agricultural type of society.
-Now, what was interesting 300 years ago
+So it's not surprising that the economists of the time, who were called the Physiocrats, actually put the center of their attention to farm labor. When they said, "Where does value come from?" they looked at farming. And they produced what I think was probably the world's first spreadsheet, called the "Tableau Economique," and this was done by François Quesnay, one of the leaders of this movement. And it was very interesting, because they didn't just say, "Farming is the source of value." They then really worried about what was happening to that value
-is the society was still an agricultural type of society.
-So it's not surprising that the economists of the time,
-who were called the Physiocrats,
-actually put the center of their attention to farm labor.
-When they said, "Where does value come from?"
-they looked at farming.
-And they produced what I think was probably the world's first spreadsheet,
-called the "Tableau Economique,"
-and this was done by François Quesnay, one of the leaders of this movement.
-And it was very interesting,
-because they didn't just say, "Farming is the source of value."
-They then really worried about what was happening to that value
 when it was produced.
-What the Tableau Economique does --
+{{:propreitor.jpg?400 |}}
-and I've tried to make it a bit simpler here for you --
-is it broke down the classes in society into three.
+What the Tableau Economique does -- and I've tried to make it a bit simpler here for you -- is it broke down the classes in society into three.
-The farmers, creating value, were called the "productive class."
+The farmers, creating value, were called the "//productive class//." Then others who were just moving some of this value around but it was useful, it was //necessary//, these were the merchants; they were called the //"proprietors."//
-Then others who were just moving some of this value around
+And then there was another class that was simply charging the farmers a fee for an existing asset, the land,
-but it was useful, it was necessary,
+and they called them the "//sterile class//."
-these were the merchants;
-they were called the "proprietors."
+(https://www.marxists.org/archive/kuruma/politicaleconomy-physiocracy.htm)
-And then there was another class that was simply charging the farmers a fee
-for an existing asset, the land,
+Now, this is a really heavy-hitting word if you think what it means: that if too much of the resources are going to the landlords, you're actually putting the reproduction potential of the system at risk.
-and they called them the "sterile class."
-Now, this is a really heavy-hitting word if you think what it means:
-that if too much of the resources are going to the landlords,
-you're actually putting the reproduction potential of the system at risk.
 And so all these little arrows there were their way of simulating --
 again, spreadsheets and simulators, these guys were really using big data --