Thursday, November 15, 2012

I, Pencil: The Movie

Video embedded below.

"The market is truly an amazing thing. Much of the time, as illustrated by the story of the pencil, it functions so well that we can get away with enjoying its fruits without ever noticing the tree. Its greatest strength is its downfall because it’s so easy for so many to take it for granted. But taking a look at the tree— the impossibly complex tangle of incentives that brings graphite, wood, metal, and rubber together— is the path to appreciation and humility. It’s harder to believe one central power can produce more prosperity once you’ve seen what the market creates without one."

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