Milton Friedman - Lesson of the Pencil
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Milton Friedman uses a pencil to illustrate how the free market price system promotes cooperation and harmony among those with no common interest. http://www.LibertyPen.com Source: Milton Friedman Speaks Buy it: http://www.freetochoose.net/store/product_info.php?products_id=152
Comments
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The essence of Capitalism, the only socioeconomic system that really work.
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I'm gay
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next door in physics the prof spends an hour yacking about gravity pulling down on the pencil. next door to that artists draw with the pencil. and next door to that in english people write litterature with that pencil. and next door to that boogers
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Dude thanks for the vids but what's with the gay music? Us libertarians listen to
1) clash rock the casbah
2) the animals please don't let me be misunderstood
3) Jackie Wilson higher higher
Come on dude change this gay brothel music -
We must clone this guy....make like 10000 clones of him. So that every dumbass country would have a few to ask for an advice in time of need.
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Keep up the good work <3
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someone can help me. I am Vietnamese people, the teacher say so fast I just can hear the process of making pencil. Are there people give me the main ideas of this lesson plsssssssssssssss. Thank you
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It's amazing how many things we use from day to day that we just take for granted. A little understanding of truths that are hidden in plain sight everyday could give us a much better perspective on aspects of society, and help us to collectively make better decisions for our future.
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pencils are very easy to make. take the bark off a stick, burn the stick, sharpen the charcoal and wrap it with the bark of the stick.
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"...nobody has had a gun put to their head...."
He needed to look into crazy King Leopold and how he produced the world's rubber by taking all children in African villages captive, cutting off the arm of one and telling the adults if they didn't make the day's rubber quota the same would happen to the rest of the children.
Capitalism assumes infinite resources. That is simply not the situation.
There has never been a truly "free" market and never will be.
Governments always set the ground rules and make trade possible and profitable. -
Our kids should be watching this in schools.
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People nod their heads and agree with this, then turn around and demand the government run our health care.
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Engrossing, and a must see for everybody.
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Surreal
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Such a hero of freedom, standing ovation :))
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Trevligt att höra men alla vet att det fungerar så . Det är ingen som tror att den som gör en penna nödvändigtvis behöver äga skog gruvor mm för att tillverka en penna . För att få tag i en penna köper man den i en affär . Enkelt . Eller tar med en hem från jobbet som många gör .
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China man is not the preferred nomenclature, Asian-American please.
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Sell me this pencil
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People like Mr Friedman have to take concepts out of context in order for them to make sense or to be understood. Why does the rubber farmer get 5 cents per pencil and the shareholder get 50 cents per pencil lol? Don't go there Milton.
Not once does he mention wages, working conditions, living standards, cost of living, environmental costs etc.
All he say, they all BELIEVE that they are benefiting. This indicates one of two things. 1) Humans have to be tricked in order to do things or, 2) The reality of the situation is someone in that whole process, from the rubber to the graphite, is being under paid and someone else is being overpaid. I.e. If the pencil requires everyone to come together to make it, why not give each person a proportion of the income received from the sale of the pencil based on the amount labour put into the creation of the pencil? Why play the game of the market where someone gets paid less but has an equally or quite possibly more important role to play in the whole process of producing a pencil? -
You know folks, I think the problem with the world is exactly that no one knows how a pencil is made. I bet you that you wont be able, as a consumer, to trace back the supply chain that went into making it. You'll just be standing there in the supermarket with a 10 cent pencil and wonder why it was so cheap. You follow? ;)
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