Friday, July 17, 2015

Nobody Knows How to Make a Pencil

Here's Milton Friedman video on the important economic lessons contained in the 1958 classic essay ‘I, Pencil’. This is about the core of peaceful exchange without a central planner. -RW

(ht Mark Perry)

1 comment:

  1. Google search terms to learn more about this - Spontaneous order, emergent order, spontaneous organization