The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Produit Net

  • G. Vaggi
Reference work entry


The French Physiocrats defined the net product, produit net, as the difference between the gross output of agriculture and the overall expenses involved in production (Mirabeau 1764, vol. 1, p. 337; Quesnay 1768, p. 979). The produit net, or revenue as they often called it, is that part of annual output which is left over after the deduction of the means of production which have been consumed. It is a great merit of Quesnay to have provided the first clear distinction between gross and net product.

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • G. Vaggi
    • 1
  1. 1.