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Power of the Market - The Pencil

LibertyPen · explainer · Watch on YouTube

Microeconomics & behavioral economicsBusiness & economics (other)

What it is

A three-minute excerpt from Milton Friedman's Free to Choose in which he uses a pencil to show that no single person knows how to make it. He argues that the free market coordinates countless strangers peacefully.

Why Hacker News recommends it

HN uses it as the canonical illustration of decentralized production and global cooperation, often cited well outside economics threads.

  • 1 people recommended it
  • 1 different months
  • 0 strong recommendations
  • first 2011, last 2019

What HN commenters said

  1. “I don't agree with many of his views, but I think he makes a good point in this video”

    Friedman makes a good point about decentralized production despite disagreements.

    ZenoArrow, 2017-07 · Recommendation · in “Remacs – A community-driven port of Emacs to Rust”

Excerpts from Hacker News comments, linked to the originals. Summaries and labels were written by a language model from those comments.

Topics: milton friedman, pencil, decentralization, supply chains, free to choose

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