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Milton Friedman - I, Pencil

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Further reading 1

How far is one working chip from a viable production line? →Work backward from a die that passed test. How many others passed on that wafer? Who qualified the machinery? Was the line under financial pressure before an interruption?This video helps answer · Beyond the list of suppliers, who knows how?

Caption notes

Friedman decomposes a pencil into wood, graphite and other inputs to present his account of price coordination. Applying that argument to a particular supply chain requires identifying who can actually supply each hard-to-replace capability.

Archived captions (transcription method unspecified) ↗
Original passages · 2
This black center, we call it lead but it's really graphite
Milton Friedman - I, Pencil · ▶ 0:39–0:46
Literally thousands of people cooperated to make this pencil
Milton Friedman - I, Pencil · ▶ 1:18–1:24

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