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A history of economic doctrines

Note 119 — Chapter I · : THE PHYSIOCRATS

R. (Robert) Richards translation

“It is not correct to say that the exchanged values are equal; on the contrary, each party seeks to give a smaller value in exchange for a larger one. The process proves advantageous to both; hence, doubtless, the origin of the idea that the values must be equal. But one ought to have come to the conclusion that if each gains both must have given less and obtained more.” (Op. cit., pp. 55, 86.) Compare this with the quotation from de Trosne, p. 27, and note its psychological superiority.

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