Physiocracy denies particular , external, merely objective wealth by declaring labour to be the essence of wealth. But for physiocracy labour is at first only the subjective essence of landed property. It turns only landed property into alienated man . But it disavows the world of industry and acknowledges the feudal system by declaring agriculture to be the only industry. For just as industry incorporates annulled landed property, the subjective essence of industry at the same time incorporates the subjective essence of landed property .
Labour appears at first only as agricultural labour , but then asserts itself as labour in general.