Anne robert jacques turgot biography of martin

Anne Robert Jacques Turgot

French economist and statesman
Date of Birth:
Country: France

Content:
  1. Biography of Anne Robert Jacques Turgot
  2. Early Life and Education
  3. Early Economic Interests
  4. Contributions to Economics
  5. Later Years and Ministerial Positions
  6. Struggles and Resignation
  7. Later Life and Legacy

Biography of Anne Robert Jacques Turgot

Introduction

Anne Robert Jacques Turgot was a French economist and statesman who was a student of François Quesnay, the founder of the physiocratic school.

He is well-known for his intellectual contributions, his role as a royal minister, and his early advocacy for economic liberalism in monarchic France.

Early Life and Education

Anne Robert Jacques Turgot was born on May 10, , in Paris.

For entrepreneurial savings to be large enough to accumulate capital and expand production, profits have to be higher than the amount required to merely maintain the current capital stock. Annecy, Monastery of. The lender gives up, during the term of the loan, not only possession of the metal but also the profit he could have obtained by investment. Stanislav Bogdankevich.

He was the youngest son of Michel-Étienne Turgot, who served as the prévôt of Paris from to (a position similar to the mayor of Paris), and Madeleine Francoise Martineau de Brétignolles, from an ancient Norman family. Turgot's education initially pointed towards a career in the clergy. He studied at the Sorbonne, where he enrolled in , and was known at that time as Abbé de Brucourt.

During his time at the Sorbonne, Turgot presented two remarkable Latin dissertations: "Les avantages que la religion chrétienne a apportés à l'espèce humaine" ("The advantages that the Christian religion has brought to humanity") and "L'Histoire du progrès dans l'esprit humain" ("The History of Progress in Human Understanding").

Early Economic Interests

Turgot's first expression of his interest in economics was a letter he wrote in to his university colleague, Abbé de Cicé, concerning paper money.

In the letter, he refuted the defense of John Law's system by Abbé Jean Terrasson. Additionally, Turgot had a passion for poetry and attempted to introduce the rules of Latin prosody into French poetry, translating the fourth book of Virgil's Aeneid into classical hexameter. Towards the end of his education, Turgot decided not to take holy orders, stating that he "could not wear a mask for the rest of his life."

Contributions to Economics

In , Turgot first expressed his idea of progress in his work "Tableau philosophique des progrès successifs de l'esprit humain" ("Philosophical Overview of the Successive Progress of Human Understanding").

Jacques necker The Economics of A. T urgot was the Frenchman's Adam Smith. Governmental restrictions and special privileges, on the other hand, compel consumers to buy poorer products at higher prices. In addition to continuing the Hume model and integrating it with his analysis of interest, Turgot was emphatic in his opposition to the now dominant idea that money is purely a conventional token.

According to Turgot, progress should encompass not only art and science but also culture as a whole, including manners, customs, institutions, legal codes, economics, and society. In , he became a substitute, then an advisor in the Paris Parliament. In , he became a master of requests, a high-ranking official in the judicial system, and, in , a member of the royal chamber.

Turgot became a regular attendee of Parisian salons, where he met the leaders of the physiocratic school, Quesnay and Vincent de Gournay, as well as other economists.

Later Years and Ministerial Positions

In , while traveling in eastern France and Switzerland, Turgot visited Voltaire, who became one of his main friends and supporters.

During this time, Turgot studied various scientific disciplines and languages, both ancient and modern, and engaged in translations and literary activities. He wrote articles, pamphlets, and works on economic and religious topics.

Anne robert jacques turgot biography of martin Fetter, Frank. Annenkov, Georges. Tags: Biographies. According to Turgot, progress should encompass not only art and science but also culture as a whole, including manners, customs, institutions, legal codes, economics, and society.

In August , Turgot was appointed as the intendant, or tax collector, of Limoges, one of the poorest regions in the country. He held this position for 13 years, trying to apply his economic knowledge to benefit the territories entrusted to him. It was during this time that he wrote his most famous work, "Réflexions sur la formation et la distribution des richesses" ("Reflections on the Formation and Distribution of Wealth"), which was published separately in In July , with the accession of Louis XVI, Turgot was appointed as the Minister of the Navy, and shortly after, the Controller-General of Finances.

His appointment was met with widespread approval, and he was enthusiastically embraced by philosophical and economic circles. However, France's financial situation was desperate, and Turgot immediately set about implementing his long-prepared program, which included strict cost-cutting measures in all areas.

  • He insisted on not raising taxes but recommended that the king increase pensions and create job opportunities.

    Struggles and Resignation

    Turgot immediately began working on a decree that would allow free trade in grain, but this legislation faced strong opposition, even within the royal council. Other ministers and those interested in grain speculation grew to resent the progressive economist.

    The worst enemy Turgot faced was the poor harvest of , which led to disorder and unrest. However, Turgot showed great determination in suppressing the disorder and remained loyal to the king. Despite this, he lost the trust of Louis XVI, who feared overly progressive reforms.

    Anne of Bourbon-Parma —. However, Turgot's interests extended beyond the law and administration. Anneke, Mathilde Franziska Giesler. Anne of Lusignan b.

    On May 12, , Turgot was ordered to resign.

    Later Life and Legacy

    After his resignation, Turgot spent the rest of his life engaged in scientific and literary pursuits. He passed away on March 18, Turgot's contributions to economics, his emphasis on progress, and his advocacy for economic liberalism have left a lasting impact on the field.

    He is remembered as an outstanding thinker and a dedicated minister who attempted to introduce progressive policies in the context of monarchic France.