Socialist Calculation Debate Explained: Menger, Mises, Hayek and "I, Pencil" in 2026

Podcast: Consequential Actions Podcast · Jeff Kellick

Opublikowano: 2026-09-16

Self-Evident: The Road to 1776 — Episode 13B Nobody Knows How to Make a Pencil. So What Is a Price Actually Telling You? In December 1958, Leonard Read published an essay in the voice of a pencil, and its claim still holds. Not one person in the pencil’s global supply chain knows how to make one, and the pencil gets made anyway. Something tells each of those people what to do, and much of what reaches them is a number. Adam Smith wrote in 1776 that no huma...