Essay Review: I Pencil/My Family Tree
Essay I Pencil/My Family Tree
by Leonard E. Read
Review by Terry Fitzpatrick and Jeff Limpert
This essay (see link at the end of the review) has been submitted to us by Terry Fitzpatrick of Kentucky. It describes the production of a common lead pencil from materials through manufacture. Even this simple instrument cannot be constructed by one individual, or one small group of people. We are able to obtain and use a pencil only by the semi-organized labors of people across the planet. People who are working in their own interests without a large central organization coordinating the entire operation.
Economist Milton Friedman wrote the afterword and, according to Terry, "I Pencil" was one of Friedman's all-time favorite essays. Friedman states the essence of the essay in a section of his 1976 PBS series "Free to Choose." In fact you can see Friedman's summation at this site: http://bestofthebestvideos.blogspot.com/2007/10/i-pencil.html
Relating the essay to our purpose, we suggest that as our economy morphs into it's next evolutionary stage, it will be possible to see local economies revitalized by answering the question. "What can we do within our community to attract the kinds of business activities that will lead to higher levels of meaningful employment reflective of the 21st century lifestyle to which we aspire?" For it is only through our own actions we can hope to achieve success.
In his submission statement Terry wrote, ""In this brutally eloquent essay, you will rediscover what it means to have a free economy. Read it before you vote again."
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Note: We hope to remain apolitical at this site and make no recommendation on how anyone ought to vote. We do encourage you to read the article. Decide what you can do in your area to make the world a better place. |
This is the link to the Essay: http://www.fee.org/pdf/books/i, pencil 2006.pdf
