The term "physiocrat" refers to a proponent of an 18th-century theory advocating a society and economy based on natural law and the rights of private property. There are several synonyms for this term, including "agrarianist," "laissez-faire economist," "free-market economist," and "economic liberal." Each of these alternatives highlights the emphasis on individual property rights and the rejection of government intervention in the marketplace that characterizes the physiocratic philosophy. While the term "physiocrat" may not be as familiar to modern audiences, its underlying concepts continue to shape economic and political discourse in many countries around the world.