physiocrat /ˈfɪzɪəkɹat/ noun1 •(historical) Any of a group of economists in 18th-century France who believed that the government should not seek to influence the operation of natural economic laws.The Physiocrats espoused a professional service ethic and, in the interests of societal welfare, sought to establish laws of political economy and social relations. — 2002 formsphysiocrats