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Le Mont de Sisyphe
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Location: Zurich, Switzerland

Je suis beau et intelligent. À part cela, je suis juriste helvète, libéral-conservateur, amateur d'armes, passionné d'histoire et de politique. Je suis libéral et capitaliste convaincu car je pense que c'est cela l'état naturel de l'homme. Je parle le "Schwiizerdütsch" avec un accent zurichois, j'adore la bonne musique, la bière et surtout la femme avec qui je vis.


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Saturday, September 09, 2006

The capitalist lesson of the day



The famous economist Milton Friedman exlains why "there is not a single person in the world who can make this pencil." He explains that the creation of even a simple object - like the "lead" pencil - requires the knowledge of many people, lumberjacks, steel manufacturers, miners, etc. These people may not speak the same language, they may not know or like one another, yet the market enables them to combine knowledge and effort to produce wealth. And everything is possible only thanks to the magic of the impersonal and coordinating price system (From: PBS Free to Choose 1990 Vol 1 of 5 The Power of the Market, 02:15).

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