Apr 24, 2008
This article is a reprint of Chapters VII and IX of Augustin Cournot, Researches into the Mathematical Principles of the Theory of Wealth (N.T. Bacon trans.) (New York: Augustus M. Kelley, 1971) (1838). Chapter VII: Of the Competition of Producers 43. Every one has a vague idea of the effects of competition. Theory should have attempted to render this idea more precise; and yet, for lack of regarding the question from the proper point of view, and for want of recourse to symbols (of which the use in this connection becomes indispensable), economic writers have not in the least improved on proper notions in this respect. These notions have remained as ill-defined and ill-applied in their works, as in popular language. . . .
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