We free traders have often cited Apple's iPod, iPhone and iPad as perfect examples of the power of free trade and open markets. Now there's a fantastic new video from the Institute for Faith, Work and Economics which plays off Leonard Read's classic "I, Pencil" essay (made famous by Milton Friedman) and, I think, more clearly demonstrates in three minutes the benefits of free markets, specialization and global supply chains than three years of my blog posts:
Awesome stuff. Uncle Milty (whose 100th birthday is Tuesday) would be proud.
(h/t Andy Roth)
Showing posts with label Cool Vids. Show all posts
Showing posts with label Cool Vids. Show all posts
Monday, July 30, 2012
Tuesday, July 28, 2009
Ever Wondered What a Trillion Could Buy?
I've never really had a problem grasping the sheer insanity of federal spending stats, probably because I spent my youth dreaming of someday being Montgomery Burns. But for those that do, I recommend seeking out a few good visuals and anecdotes. This guy is great at it, and all his vids are must-watch. I also really like this one:
When the President first announced his "budget cuts" in April, it was reported in Time that the White House worked closely with behavioral economists who told him that "normal people" are "insensitive to scope." In other words, most folks simply can't comprehend the difference between a million and a trillion bucks. While a cheapskate like me can't fathom such insensitivity, it's good to know that there are smart, creative people out there doing fantastic work to relay the mind-boggling scope of current and proposed federal programs to the general public.
When the President first announced his "budget cuts" in April, it was reported in Time that the White House worked closely with behavioral economists who told him that "normal people" are "insensitive to scope." In other words, most folks simply can't comprehend the difference between a million and a trillion bucks. While a cheapskate like me can't fathom such insensitivity, it's good to know that there are smart, creative people out there doing fantastic work to relay the mind-boggling scope of current and proposed federal programs to the general public.