Friedman and the Humble Pencil

Another great video suggested by Bogpaper reader David Roberts.
Once you get over the American-ness of this guy’s presentation style the message on the benefits and impressiveness of the free-market is well worth listening to.

One comment on “Friedman and the Humble Pencil

  1. bpq
    December 11, 2012 at 12:22 pm #

    I like the way that the video breaks down the complexities and logistics of production of such a simple object. However, I totally fail to see why this is specifically linked to Friedman, and presumably the neo-classical economic model which made his name. You only have to witness the current financial crisis to understand that the neo-classical economics do not work as Friedman predicted. It’s a very misleading video.

    So I am left suspecting that this video was produced for political reasons rather than educational reasons. In fact it turns out that the video was produced by a lobby group called Americans for Limited Government. This lobby group does not disclose it’s source of income.

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