An Economics Lesson from a Talking Pencil (Update)

A famous essay argues that “not a single person on the face of this earth” knows how to make a pencil. How true is that? In this 2016 episode, we looked at what pencil-making  can teach us about global manufacturing — and the proper role of government in the economy.  SOURCES:Caroline Weaver, creator of the Locavore Guide.Matt Ridley, science writer, British viscount and retired member of the House of LordsTim Harford, economist, author and columnist for the Financial TimesJim Weissenborn, former CEO of General Pencil CompanyThomas Thwaites, freelance designer and associate lecturer at Central Saint Martins.  RESOURCES:"When ideas have sex," by Matt Ridley (TED, 2010)."How I built a toaster — from scratch," by Thomas Thwaites (TED, 2010)."Look on this toaster, ye mighty, and despair!" by Tim Harford (Financial Times, 2009)."I, Pencil," by Leonard Read (Foundation for Economic Education, 1958).  EXTRAS:“Fault-Finder Is a Minimum-Wage Job,” by Freakonomics Radio (2025).