Monday, March 30, 2015

I, Pencil

Leonard Read's famous story "I, Pencil" is a short tale that reminds us of the wonders of the market that we observe all around us every day. We may take it for granted, but even a device as simple as a #2 pencil requires a massive effort on the part of economic actors.

The people who make the eventual production of a pencil possible are specialized in their own tasks and may have no idea what the eventual product of their labor will be. No one person plans the production of pencils, yet they sit on shelves around the world, ready for purchase and use. Below is a video version of Read's essay that I think readers might enjoy.

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