Economic Lessons

I, Pencil

Posted By Ira Gorelick

Ira Gorelick is a Teacher and Student of Economics and has published numerous classes on Communication and Economics.
June 19, 2020

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I, Pencil
Ira Gorelick
June 19, 2020

The activities for Economics in One Day are developed around the themes of Leonard E. Read’s classic essay, ‘‘I, Pencil.’’

ARTICLE: I, Pencil: My Family Tree – Leonard Reed ( []

‘‘Not a single person in the world knows all the processes required to make a pencil and yet voluntary exchange enables hundreds of people to cooperate together in their production without any central direction.’’

VIDEO: I, Pencil: The Movie (Competitive Enterprise Institute, 6:32 min) [] A film from the Competitive Enterprise Institute, adapted from the 1958 essay by Leonard E. Read.

VIDEO: Milton Friedman – I, Pencil (Free to Choose Network, 2:25 min) [] ‘‘Milton Friedman, Nobel laureate, discusses the market forces involved in creating a single pencil in his

telling of the classic story written by Leonard E. Read.’’

VIDEO: How to Make a $1500 Sandwich in Only 6 Months (How To Make Everything, 3:44 min) []

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