Dr. Friedman states, "There is not a single person in the world who can make this pencil." He explains that the creation of even a simple object - like the "lead" pencil - requires the knowledge of many people, lumberjacks, steel manufacturers, miners, etc. These people may not speak the same language, they may not know or like one another, yet the market enables them to combine knowledge and effort to produce wealth.
America’s freedom and prosperity derive from the combination of the idea of human liberty in America’s Declaration of Independence with the idea of economic freedom in Adam Smith’s Wealth of Nations. Friedman explains how markets and voluntary exchange organize activity and enable people to improve their lives. He also explains the price system. Friedman visits Hong Kong, U.S. and Scotland.
A re-creation of some of the confrontations and sketches in the remarkable background of the Windscale Enquiry. The dialogue is taken from the Official Verbatim Transcript of Proceedings. It was filmed on location in the Lake District and at Whitehaven Civic Hall where the Enquiry took place.
A re-creation of some of the confrontations and sketches in the remarkable background of the Windscale Enquiry. The dialogue is taken from the Official Verbatim Transcript of Proceedings. It was filmed on location in the Lake District and at Whitehaven Civic Hall where the Enquiry took place.
