Once the expenditure of effort exceeds the value of the political object, the object must be renounced and peace must follow.
We see then that if one side cannot completely disarm the other, the desire for peace on either side will rise and fall with the probability of further successes and the amount of effort these would require. … If the incentive grows on one side, it should diminish on the other. Peace will result so long as their sum total is sufficient — though the side that feels the lesser urge for peace will naturally get the better bargain.
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