Skip to comments.Tribute to Milton Friedman and the Humble Pencil
Posted on 04/26/2012 12:13:23 PM PDT by Nachum
We're Milton Friedman fans.
And we're believers in powerful but simple videos, too.
Professor Friedman's famous video, entitled "I, Pencil," (based on Leonard Reed's essay of the same name) inspired us to take a closer look at the humble pencil.
(Excerpt) Read more at youtube.com ...
Vid at link
At every step in the complex process described in the video, government is standing in the way. Mining and forestry is heavily regulated. Industries are regulated and taxed. Trade must hurdle government-created barriers. Consumer's income is taxed away, before a purchase can be made. Sales taxes ding the consumer again, at the point of purchase. Despite all of this, somehow the pencil manages to get made. If Obama gets four more years, he will put a stop to that outrage.
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