Who They Were
Anne-Robert-Jacques Turgot (1727–1781) was a French minister and economist who championed free markets and attempted fiscal reforms in pre-Revolutionary France. He advocated for elimination of trade restrictions and taxes that distorted incentives. Though his ministry was brief (1774–1776), he influenced later free-market thinking.
Core Contribution
Turgot advocated for supply-side economics: removing barriers to production would increase output and tax revenues. He opposed mercantilism and argued for free internal and external trade. His thinking prefigured later supply-side economics.
Impact & Legacy
Turgot's influence was limited in his lifetime but increased after. His arguments for removing trade barriers influenced later free-trade advocates.
Why They Matter Today
Turgot represents early supply-side thinking and the belief that removing distortions increases economic growth.