Physiocracy became fashionable in France, and even across Europe, for barely a decade. After a long period of development, it gained prominence in the mid-1760s. By the time Turgot came to power in 1776, the movement had already lost its popularity, and the minister kept his support for Quesnay's school mostly hidden.

Its origins lie in the evolution of economic ideas during the 1750s. Several authors helped bridge the gap between Boisguilbert and what would later become known as Physiocracy. As previously discussed, Vincent de Gournay and his circle of economists were behind many publications that introduced French readers to foreign economic thought and helped ignite their passion for economics. The foundations of Physiocracy were already present in books like "Détail de la France" by Boisguilbert and "Essay on the Nature of Trade in General" by Cantillon.

The concept of laissez-faire had several advocates since Boisguilbert, especially Vincent de Gournay and the Marquis d'Argenson.

What remained was to turn this body of ideas into a coherent, complete doctrine, and the Marquis de Mirabeau was the first to try. Inspired by Cantillon's Essay, he began writing a comprehensive treatise on economic matters titled "L'Ami des Hommes", which was very successful.

Thus, in 1756, the story of Physiocracy could begin. François Quesnay, then a surgeon turned personal physician to Madame de Pompadour, invited Mirabeau to Versailles to discuss economic ideas.

By the end of their conversation, Mirabeau agreed with Quesnay's ideas. From then on, they wrote: Quesnay created the Tableau économique (1758) to illustrate the flow of wealth in the economy, and together they published the Theory of Taxation (1759).

Their efforts were not warmly welcomed. At court, the prevailing reaction was indifference. The King acknowledged Quesnay's inclination for theory and affectionately called him "my thinker". But apart from that compliment, their work didn't obtain any result. In fact, their Theory of Taxation offended the tax administrators it criticized, so much so that they demanded and secured Mirabeau's imprisonment. Madame de Pompadour eventually had him released, but he continued living in exile at his estate in Bignon for a few weeks.

The first half of the 1760s thus passed in relative silence. Due to his position at Versailles, Quesnay was forced to stop writing, or at least to publish nothing under his own name. Mirabeau, already condemned once, was warned and well aware that the king's favorite could not protect him forever.

After this brief silence, the two economists began recruiting disciples: this was the only way to popularize their ideas. By 1765, their successes were striking. Dupont de Nemours, Abeille, Mercier de la Rivière, Le Trosne, and Baudeau quickly joined their ranks. They formed a school: they had their own journal, Les Éphémérides du Citoyen, and even met every Tuesday at Mirabeau's home.

Between 1765 and 1775, the united group of Physiocrats stood at the peak of their fame. The literary and philosophical world had eyes only for them, allowing their ideas to spread widely and rapidly. People called them "the economists", or, more mockingly, "the sect of economists". Regardless of the tone, their notoriety was absolute. In 1774, after a trip to Metz, M. de Vaublanc wrote of his astonishment in his memoirs: everyone around him was talking economics and reasoning like Quesnay's disciples. "It was fashionable", he noted. "Everyone was an economist".

However, by 1770, their popularity began to wane. The group experienced its first defections, and their ability to withstand criticism weakened. And the critics were many, Condillac, Mably, Voltaire, Galiani, Linguet, Graslin, and even Adam Smith in Scotland, all challenged their views.

Their newspaper no longer appeared regularly. This marked the end of the movement's most active period.

Physiocracy would continue to exert influence up through the Revolution. In France, first through Turgot, more of a fellow traveler than a disciple, as well as through its representative Dupont de Nemours, whose life and works we will study later. But also across Europe, where the physiocratic doctrine was received with enthusiasm. In Germany, through the Margrave of Baden, and in Italy, through Leopold of Tuscany, physiocratic theories even inspired economic reforms favoring private property and freedom.