Inspiring content from Hillsdale College.
In this short video
Leonard Read, in 1950, wrote an article called, “I, Pencil,” which became rather famous. In it, he points out all the coordination that’s required for a pencil to be made, and how markets solve the problems of getting lumber from the Pacific Northwest, and rubber from Malaysia, and all the parts of a pencil assembled.
Milton Friedman also spoke of this in his book and his television series, “Free to Choose.” It’s interesting to know that Adam Smith wrote much the same thing about a woolen coat in Wealth of Nations in 1776.
For further study please read I Pencil > https://fee.org/resources/i-pencil/ in its entirety.