In this video directed by Nicholas Tucker, adapted from, Leonard E. Read’s 1958 essay, I, Pencil, a pencil is used to illustrate how the free market system works. The video demonstrates a pencil, at first glance, appears relatively simple; a piece of wood with a lead- actually graphite- in the center, some paint, a metal ferrule and the eraser. The video is intended to illustrate the extensive amount of people, skill and materials that come together to form an economic system. The narrator relates no one individual is directing the activities to manufacture the pencil. The purpose of most individuals, companies or groups involved in the process is not to produce a pencil but to trade their skills, materials or both for something valuable to
