I picked this up through a post by blogger, Bob Krumm at bobkrumm.com. (Warning, he blogs on political issues so if you don't want to read about politics, avoid the link.) His pithy comment is "Conceivably millions of people have a hand in the making of a pencil. And yet, without any central control whatsoever, somehow, that old reliable #2 is always available wherever I choose to shop."
In a manner similar to Adam Smith's classic take-apart of the production of matches, I, Pencil is a great rendition of how the invisible hand works in economics. The "I, Pencil" article is here.
Sunday, October 28, 2012
Subscribe to:
Posts (Atom)
Woke Terror
I recently heard a new phrase that stuck in my head like a dart in a dart board - Woke Terror . In our world a formerly innocent remark...
-
Almost everybody in the IT business is familar with Gartner and Magic Quadrants. Here's another useful visua l from Thomas Wailgum at CI...
-
Crowing out was a term I became familiar with in the 80-81 recession where Paul Volcker saved the future. The tenet is that government spend...
-
I recently heard a new phrase that stuck in my head like a dart in a dart board - Woke Terror . In our world a formerly innocent remark...