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Power of the Market - The Pencil


Milton Friedman uses a pencil to explain how the operation of the free market promotes harmony and world peace. (1 of 31) http://www.LibertyPen.com

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: LibertyPen

Length: 02:42
Rating: 4.709804
Views: 41828

Tags: choose  free  friedman  harmony  market  milton  peace  pencil  power  world  

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iamgabrielf (November 30, 1999 at 12:00 am)
"Russia was not ready for the comm' revolution, as capitalism had not yet elevated living conditions." You disproved your argument! Are we to believe that for comm' to succeed it needs a capitalist foundation?As for SWE & NOR, they are not centrally planned. They are highly taxed free markets. Sure, they have marxist leanings, but there is no central planning committee.Every govt is against defecting? Not in USA. You can leave asap. Media manipulation isnt capitalism, it's corruption.
sleeplessmind (November 30, 1999 at 12:00 am)
"Name one communist country that had a higher standard of living than America?"not to dodge the question, but a pure communist country has yet to be seen. but norway and sweden have done well by embracing the principles. russia was not ready for the communist revolution, as capitalism had not yet elevated living conditionsand EVERY govt is against defecting and treason, just like they manipulate media and free speech if they think it necessary. isnt just a marxist phenomena
musclecarlo72 (November 30, 1999 at 12:00 am)
by the blood and tears of its people. The free market created youtube; the computer your using and the internet you are using to post this, all without shipping anyone to Siberia. So its pretty easy to see who wins here, and that is the citizens of a free society.
iamgabrielf (November 30, 1999 at 12:00 am)
Name one communist country that had a higher standard of living than America?Name one communist country that had more inventions than America?Name one communist country that did not suppress freedom of speech?Name one communist country that not forbid its people from defecting?Name one communist country that did not outwardly manipulate the media?Name one communist... etcetera, etcetera, etecetera...
iamgabrielf (November 30, 1999 at 12:00 am)
You're right. Obfuscating the invalid and discredited gives it room to compete against systems infinitely more efficient, creative, green and profitable.
sleeplessmind (November 30, 1999 at 12:00 am)
i agree with you. putting profit over people makes all sorts of amazing things possible
sleeplessmind (November 30, 1999 at 12:00 am)
central planning put people in space first, and turned a country still in the grip of fuedalism into a world power within a few years
Mulder18 (November 30, 1999 at 12:00 am)
Of course they could. That is not his point. His point is that the complex market interactions necessary to produce a pencil, make central planning of pencil production inefficient/unreliable. 70's price controls on gasoline led to shortages because natural rises in price allow companies to bring more expensive gasoline (from farther away, harder to get, etc...) to market at a worthwhile profit. However, when prices are unnaturally forced down, capital is moved to more profitable products.
FreeGovernmentCheese (November 30, 1999 at 12:00 am)
i just wanted to buy a box of pencils at Staples.
letsgoforajoyride (November 30, 1999 at 12:00 am)
sad but true, never looked at it that way.