Abstract

A prudent ruler ought not to keep faith when by so doing it would be against his interest, and when the reasons which made him bind himself no longer exist. If men were all good, this precept would not be a good one; but as they are bad, and would not observe their faith with you, so you are not bound to keep faith with them. Nor have legitimate grounds ever failed a prince who wished to show colourable excuse for the nonfulfillment of his promise.Niccolo Machiavelli, The Prince

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BusinessEconomics

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Publication Info

Year
1987
Type
book-chapter
Pages
187-219
Citations
612
Access
Closed

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Cite This

Lester G. Telser (1987). A theory of self-enforcing agreements. Cambridge University Press eBooks , 187-219. https://doi.org/10.1017/cbo9780511528378.007

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DOI
10.1017/cbo9780511528378.007