Antoine Augustin Cournot Quote

In the act of exchange, as in the transmission of power by machinery, there is friction to be overcome, losses which must be borne, and limits which cannot be exceeded.


p. 9 - Researches into the Mathematical Principles of the Theory of Wealth, 1897


In the act of exchange, as in the transmission of power by machinery, there is friction to be overcome, losses which must be borne, and limits which...

In the act of exchange, as in the transmission of power by machinery, there is friction to be overcome, losses which must be borne, and limits which...

In the act of exchange, as in the transmission of power by machinery, there is friction to be overcome, losses which must be borne, and limits which...

In the act of exchange, as in the transmission of power by machinery, there is friction to be overcome, losses which must be borne, and limits which...