The Magic of the Pencil: Exploring Friedman's Parable on the Free Market Economy

This chapter delves into the significance of pencils in the global free market economy, examining Milton Friedman's use of the pencil as a metaphor in his essay 'I, Pencil.' The hosts analyze the essay's message on interdependence, specialization, and the role of prices and markets, discussing whether it reveals more about Friedman as a communicator or contains the seeds of the neoliberal story.