Image

Not a single person in the world could make this pencil

Milton Friedman argues, capitalism fosters harmony and peace: “Literally thousands of people cooperated to make this pencil. People who don’t speak the same language, who practice different religions, who might hate one another if they ever met. “When you go down to the store and buy this pencil, you are in effect, trading a few…


Milton Friedman argues, capitalism fosters harmony and peace: “Literally thousands of people cooperated to make this pencil. People who don’t speak the same language, who practice different religions, who might hate one another if they ever met.

“When you go down to the store and buy this pencil, you are in effect, trading a few minutes of your time, for a few seconds of the time of all those thousands of people. What brought them together and induced them to cooperate to make this pencil? There was no commissar sending out officers, sending out orders from some central office.

“It was the magic of the price system. The impersonal operation of prices that brought them together and got them to cooperate to make this pencil so that you could have it for a trifling sum. That is why the operation of the free market is so essential, not only to promote productive efficiency, but even more, to foster harmony and peace among the peoples of the world.”

The Caldron Pool Show

The Caldron Pool Show: #11 – Senator Alex Antic
The Caldron Pool Show: #19 – Ian Miles Cheong
The Caldron Pool Show: #32 – Caesar and the Church (with Anthony Forsyth)
The Caldron Pool Show: #33 – What Happened to the Household (with C.R. Wiley)
Image

Support

If you value our work and would like to support us, you can do so by visiting our support page. Can’t find what you’re looking for? Visit our search page.

Copyright © 2023, Caldron Pool

Permissions

Everything published at Caldron Pool is protected by copyright and cannot be used and/or duplicated without prior written permission. Links and excerpts with full attribution are permitted. Published articles represent the opinions of the author and may not reflect the views of all contributors at Caldron Pool.