The Power of the Market

Film · 1980 · 48 min

The Power of the Market

  • Documentary

Directed by: Bob Chitester, Graham Massey, Eben Wilson

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Overview

Dr. Friedman states, "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.

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