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In this legendary short clip, Nobel Prize-winning economist Milton Friedman uses the humble pencil to unveil the hidden miracle of the free market.
With no central planner, thousands of people around the world—who don’t even know each other—collaborate to create something as basic as a pencil. It’s a mind-blowing insight into economics, cooperation, and the invisible hand that binds us all.
Watch this and see why it’s one of the most powerful 2 minutes in economics.
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