An Economics Lesson from a Talking Pencil (Update)
Update: 2025-06-11
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A famous essay argues that “not a single person on the face of this earth” knows how to make a pencil. How true is that? In this 2016 episode, we looked at what pencil-making can teach us about global manufacturing — and the proper role of government in the economy.
- SOURCES:
- Caroline Weaver, creator of the Locavore Guide.
- Matt Ridley, science writer, British viscount and retired member of the House of Lords
- Tim Harford, economist, author and columnist for the Financial Times
- Jim Weissenborn, former CEO of General Pencil Company
- Thomas Thwaites, freelance designer and associate lecturer at Central Saint Martins.
- RESOURCES:
- "When ideas have sex," by Matt Ridley (TED, 2010).
- "How I built a toaster — from scratch," by Thomas Thwaites (TED, 2010).
- "Look on this toaster, ye mighty, and despair!" by Tim Harford (Financial Times, 2009).
- "I, Pencil," by Leonard Read (Foundation for Economic Education, 1958).
- EXTRAS:
- “Fault-Finder Is a Minimum-Wage Job,” by Freakonomics Radio (2025).
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