"The forces of the market are just that: They are forces; they are like the wind and the tides; they are things that if you want to try to ignore them, you ignore them at your peril, and ... if you find a way of ordering your life that is compatible with these forces, indeed which harnesses these forces to the benefit of your society, that's the way to go." -- Arnold Harberger, University of Chicago Economist
Saturday, January 15, 2011
How I built a toaster -- from scratch | Video on TED.com
This video is by a guy who decided to build a toaster by himself. It illustrates how the ability to specialize and trade enables us to produce things easily which, if any one of us had to produce by himself, would be incredibly difficult or impossible to do.