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19. How Do You Make a Pencil?

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A pencil might seem like a simple, boring object. But the truth of the matter is, the production of a pencil is so extensive, no single person can make one on their own. It takes voluntary cooperation and something free market economists call, “spontaneous order.”

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Terms:

  • Spontaneous order: The natural occurring phenomenon where human beings are able to organize themselves organically without a central authority. It is the result of human actions, not of human design.

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