THE PRICE SYSTEM
DVD
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Clips from Milton Friedman's famous "I, Pencil" lecture are illustrated in animation and film clips to make his ideas more easily accessible.
"No one knows how to make a pencil," claims Friedman provocatively, before pointing out how many people all over the world—lumberjacks cutting trees in the United States, miners producing graphite in South America, plantation workers gathering rubber in Malaysia—cooperate to produce this simple object that demonstrates how the price system and Adam Smith’s "invisible hand" inspire and control a complex web of human activity.
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| Copyright | 2006 |
|---|---|
| Publisher | Izzit |
| Grade | 7–12 |
| Color | Color |
| Run Time | 12 minutes |
Table of contents