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Specialization of tasks for efficiency

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I, Pencil

I, Pencil

Free To Choose Network event 1980

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"The real price of everything, what everything really costs to the man who wants to acquire it, is the toil and trouble of acquiring it."

— Smith, Adam event 1776

menu_book An Inquiry into the Nature and Causes of the Wealth of Nations

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I, Pencil: My Family Tree as Told to Leonard E. Read

person Read, Leonard event 1958

A classic essay illustrating the concept of spontaneous order through the story of a pencil's creation, demonstrating how no single person possesse...

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An Inquiry into the Nature and Causes of the Wealth of Nations

person Smith, Adam event 1776

Foundational work of modern economics examining the mechanisms of free markets, division of labor, and the role of self-interest in creating prospe...

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person Authors

Smith, Adam

event 1723 - 1790

Scottish economist and philosopher, father of modern economics, author of The Wealth of Nations and The Theory of Moral Sentiments

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