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Free To Choose NetworkJuly 31, 2012

Milton Friedman - I, Pencil

4 Cards·Added to Korva by @danielrenwick

Buying one pencil trades minutes of your work for seconds of labor from thousands of strangers.

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Prices coordinate strangers’ work across the economy without a central commander or commissar.

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A single pencil requires thousands of people across borders, languages, religions, and cultures who never meet or know one another.

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Free markets do more than improve efficiency: decentralized trade can build cooperation, harmony, and peace across deep divisions.

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