Let's Talk BBQ

General => General Discussion & Topics => Quote of the Day => Topic started by: deestafford on August 18, 2014, 09:08:28 AM

Title: "I pencil"...too long to quote
Post by: deestafford on August 18, 2014, 09:08:28 AM

There is a great story called "I pencil"  which is too long for me to quote here but it is such a great lesson for us to appreciate the market.  Go to YouTube.com and search "I pencil" and you will find numerous videos on it.  There are two versions...one long in two parts and a short one by Milton Friedman. Depending on your time available look at Milton Friedman first (2 1/2 minutes) and then look at the other two part expansions.  I think it will be very interesting.  I've used it in talks for years.  Dee

Title: Re: "I pencil"...too long to quote
Post by: spuds on August 18, 2014, 01:54:49 PM

Thank you for that,very interesting

http://www.econlib.org/library/Essays/rdPncl1.html