...50th Anniversary Edition I, Pencil My Family Tree as Told to Leonard E. Read FOUNDATION FOR ECONOMIC EDUCATION 30 South Broadway Irvington-on-Hudson New York 10533 1-800-960-4FEE • 914-591-7230 www.fee.org “I, Pencil” is a superb case study of free markets in action. Half of the world’s economic problems would vanish if everyone would read “I, Pencil.” Burton W. Folsom, Jr. Professor of History Hillsdale College b There is no better, more easily understood, and more fun explanation of the complexity of markets than Leonard Read’s “I, Pencil.” It ought to give considerable pause when we listen to the arrogance of politicians who tell us they can manage an economy better than millions, perhaps billions, of independent decision makers in pursuit of their own personal goals. Its message to would-be planners is to bug out! Walter E. Williams John M. Olin Distinguished Professor of Economics George Mason University b The most valuable truths about economics and liberty can be found in a lowly lead pencil. When my children are old enough, I will read them a classic little essay by the late philosopher Leonard E. Read that turns a mundane writing instrument into an elementary lesson about free-market capitalism. Michelle Malkin Syndicated columnist b I, Pencil My Family Tree as Told to Leonard E. Read Introduction by Lawrence W. Reed Afterword by Milton Friedman This edition of “I, Pencil” is dedicated to our late esteemed colleague, Beth A. Hoffman,...
Words: 4221 - Pages: 17
...Project Design Problem Statement * The purpose of this project is to make a resistor from a pencil. I would like or want to figure out how electricity is trapped or contained to form the energy in a circuit to make electrical appliances work. In my experiment: I will create my own resistor out of pencils, along with my own circuit board to see the effects a circuit has on energy. *What a resistor does is slows down the flow of electricity through devices, which now days many devices use: dimmer switches, fan regulators, lights, and what I’m typing on a computer, and many more things in everyday living. Relevance of your testable question * Graphite will be the main material used on this project: which is the pencil lead. It is an electrical conductor, which allows many electrical possibilities. It is one of the allotropes of carbon, which in the next paragraph I will give a brief description from Wikipedia. Graphite is considered a semimetal, so there are many electrical possibilities that can be done with it. Along with many other uses for it. Allotropes (Graphite) “unlike a diamond, graphite is an electrical conductor. Thus, it can be used in, for instance, electrical arc lamp electrodes. Like wise, under standard conditions, graphite is the most stable form of carbon. Therefore, it is used in thermochemistry as the standard state for defining the heat formation of carbon compounds.” (Definition retrieved from Wikipedia) Literature review The...
Words: 3874 - Pages: 16
...INTRODUCTION Pencil is a writing or drawing instrument consisting of a thin stick of pigment (usually graphite, but can also be colored pigment or charcoal) and clay, usually encased in a thin wood cylinder, though paper and plastic sheaths are also used, ferrules and end-plugs. These days, typical yellow writing pencils and children’s coloring pencils are generally considered to be a commodity. The wood cased pencils produced by pencil manufacturers are the most common type of pencils. The industry has long been characterized by a high degree of international trade, particularly in the supply of base raw materials or component parts needed to produce pencils. It is said to have been difficult to transport for it came from different parts of the world. The wood-casing pencils are generally the most expensive raw material component of a finished pencil. While pencil manufacturers strive to minimize the cost of producing the pencils and to sell all for more than the cost in order to achieve a profit, there can be alternative raw materials that can maintain the desired quality level and quantity of production of these pencils. And in connection with this, the proponents want to make use of used papers in substitute for the major component of pencil which is the cedar wood. Eco pencils are said to be environmental friendly because we will have no trees to chop, no wood slates to grind and no hexagonal shape to cut by grinding wood. Each is made from one page of recycled paper...
Words: 261 - Pages: 2
...MacroEcon 11:15 I, Pencil This article I just read is all about the great pencil. Everyone knows what a pencil is and how simple of an item it truly is, but noyone really knows how much work is put into making such a simple item like that is. You probably used a pencil before you even could read or write and that’s why its so familiar to you. The basic components of this masterpiece are graphite, cedar wood, metal, and rubber. So if you had all these items, could you make a pencil? You possibly could but it is a lot easier with some help from others. There is a lot of work that goes into making a pencil, and it all starts out with a tree. The very first pencil was made out of a cedar tree in the Pacific Northwest. The people who have to cut this tree down are called loggers and it takes them some labor hours to help in the process of making the pencil. They also use many things to help them cut down the tree, such as saws, ropes, and other tools. All of those items had to be man made at some point and it all started when they drew up a plan with a pencil on how to make these tools. There is also a lot of work that goes into making graphite also. Graaphite is found in China and then taken to the factory to be mixed with clay so it can be used to write with. The eraser has components coming from all around the world to make it useful to help people erase their mistakes. The metal component in the pencil also has people coming from around the world to help make it. All of...
Words: 398 - Pages: 2
...barriers to cross-border trade and investment; by distance, time zones, and language; and by national differences in government regulation, culture, and business systems.”(Hill, 4). The company was founded in the 1870 by Joseph Dixon as The Joseph Dixon Crucible Company. He introduced the No. 2 yellow pencil to the United Sates, and came to be the world’s largest dealer, and consumer of graphite world wide What began as a small business in Salem, Massachusetts with the discovery of graphite as a stove polish and an additive in lubricants, foundry facing, brake linings, oilless bearings, and non corrosive paint and manufactured lubricants soon expanded nation wide with annual revenues of a hundred million dollars and more. In 1982 Joseph Dixon Crucible merged with Bryn Mawr Corporation forming the Dixon Ticonderoga Company (www.dixonusa.com). However, in 1990 business was not as easy (refer to Appendix 2). The Company was faced with some foreign competition .Which could put the American pencil industry out of business. “The Chinese were dumping pencils on the U.S market” (Hill, 32). The American pencil industry felt threatened and heavy antidumping duties where placed on Chinese pencils which raised their price. However the Chinese still had a better product and continued to eat up the...
Words: 2286 - Pages: 10
...type of pencil combined with with a pen. It is the only product available on the market , in other words it will bring an entirely new way of writing to its customers. It will present itself as a convenient and unusual alternatif to the traditional pens. It makes a user to feel great and cool while using our product that's why it is suitable for students.We have objectives to become a leader in innovative product launching and to satisfy the needs of the more adventureous young consumers with anew eye-catching and functional product. 2.Market analysis: Yazsil’s top competitor for the multifunction pen industry are Faber- castell and Lamy, which are leading companies in world wide. Faber- castell and Lamy are the world's largest manufacturers of pens[->0], pencils[->1], other office supplies. They offer customers a high quality and functionabilty, but mostly it is suitable for artists and professionals as their product is very expensive. 3.Marketing mix: Product: Yazsil is a combination of mechanical pencil with a ballpoint pen. The pen has many colors and pencil lead has 2 sizes: 0.5 and 0.7mm. It is available in pear wood in brown or black with a black cap, light maple wood with grey cap and chrome-plated polished metal. All the materials of the Yazsil are intoxic, the ink is not refillable but it is possible to use substitude ink. The pencil part accepts only one lead at a time, spare leads may be stored in the chambers under the tip. In order to select pen or pencil it is...
Words: 329 - Pages: 2
...examination for recruitment to the post of Executive (on contract). The selection process consists of (a) Written Examination and (b) Interview. Candidates who qualify in the written examination with high merit rank are eligible to be called for interview. Use of HB Pencil and Ball Pen : You should bring with you two HB pencils, a good quality eraser, a sharpener and a ball-point pen. You are advised to bring two pencils to avoid mending a pencil during the examination as you may lose time. Use ball-point pen for filling up the information only in boxes 1-10 on Side 1. Use HB pencil only, for filling up information in boxes 12-26 on side 1 of the answersheet and box 27 on side 2 of the answersheet. All the answers should also be marked by using HB pencil only. Handling answersheet : Please handle your answersheet carefully. Keep it dust free. If it is mutilated, torn, folded, wrinkled, rolled or dusty, it may not be evaluated. Special attention should be paid to the different objective type tests, since these are different from the usual school/college examinations. 4. 5. HOW TO SHOW YOUR ANSWERS : Each question is followed by answers which are numbered 1, 2, 3, 4 and 5. Select the most appropriate answer. Then by using HB Pencil, blacken the oval bearing the correct answer against the serial number of the question. (Refer to side 2 of the Specimen Answersheet). Please note that the oval should be dark enough and should be filled in completely. For example, if the answer to Question...
Words: 2678 - Pages: 11
...Design Flaw and Solution to the Micron Pen 005 Sydney Jacobson University of Minnesota—Twin Cities DES 1101V Intro to Design Thinking Design Flaw and Solution to the Micron Pen 005 Sydney Jacobson University of Minnesota—Twin Cities DES 1101V Intro to Design Thinking Abstract This paper serves to analyze the Micron Pen 005 and its efficiency. Created as a high quality item, with its aptness for high detail and sustainability, the soft tip of the pen shortens the lifespan through attrition. I propose a solution to increase the amount of soft tip available in the pen by redesigning the pen to assimilate a mechanical pencil. I then delve into detail about the Micron Pen 005’s reflection on society in regards to accessibility, quality, and frugality. This analysis is then concluded that my solution would create a more reliable product. Design Flaw and Solution to the Micron Pen 005 Even in today’s technology dependent world, a quality pen is a necessity. People desire something that has permanence and accuracy for daily tasks such as writing reports, scratching down notes, or drawing out rough drafts. A pen that glides onto the paper with precision is necessary to get the job done perfectly. Now enter Sakura’s Micron Pen. Designed with the user in mind, the average person is able to handle it with the simplest of motions. However, specifically with the Micron Pen 005, there are flaws that have some considering this pen as inefficient and thus needs to...
Words: 1194 - Pages: 5
...toothpaste 1 shaving cream 1 razor 1 trunk of snacks 4 towels 4 wash-cloths 2 backpacks 1 box of medicine 1 big red sled 4 belts 2 laundry detergents 2 jackets 1 Northface 4 sets of gym clothes 10 pairs of pants 19 undershirts 10 t-shirts 16 sweaters 5 dresses 5 sweatshirts 1 hat 30 pairs of socks 10 other shirts 30 pairs of earrings 10 necklaces 8 bracelets 5 headbands 1 cover up 1 mascara 4 chapsticks 1 box tissues 1 bag of writing utensils 4 notebooks 6 binders 30 dvds 2 boxes of crayons 1 pack colored pencils 1 hair dryer 1 hair straightner Pauline: 1 suitcase 5 jeans 5 shorts 7 sweaters 11 t -shirts 4 jackets 1 coat 3 dresses 1 skirt 6 blouses 1 playsuit 3 cardigans 1 PJ socks panties bras 1 scarf 8 pairs of shoes 1 toilet bag 1 shampoo 1 conditioner 1 toothbruth 1 toothpaste make up 4 nailpolishes 1 make up remover 1 lotion 1 laptop 1 laptop case 1 pencil case with pens 1 notebook 2 folders of paperwork (passport and everything for the exchange) 1 camera 1 towel 2 purses Pictures Corbin: 1 TV 1 Wii 1 Roku 3 1 external hard drive 3 flash drives 1 Nexus 7 (2012) Tablet (broken) 1 Nintendo 3DS 1 Gameboy Color 1 PSP 2 laptops (1 broken) 3 cellphones 2 stereos (1 ihome) 130 CDs 15 games 10 hats (baseball and winter) 7 pairs of shoes (including formal, boots, athletic) 7 watches 5 bags (backpack/suitcases) 22 pairs of pants (dress pants and jeans) 20 dress shirts ...
Words: 413 - Pages: 2
...luggage in the trunk and Brynn sat in the front seat with her bag in her lap. Brice jumped in the front seat of his Ferrari, started the car, and drove off. The first five minutes of the car ride was full of lectures and dos and don’ts. Then Brynn turned up the music to drain out her father’s speech. When they arrived at the airport, Brice and Brynn hugged and got the luggage from the car. Brynn said goodbye to her father and went in the airport to board her plane. On the plane, she took out her phone and turned on airplane mode. She put her earphones in and turned on her music. Looking through her backpack she found a pack of gum and took one out so that when the plane took off her ears wouldn’t pop. She took out her drawing pad and colored pencils and began to draw. After seven hours of being airborne, Brynn put away her things that she had out and drifted off into a peaceful...
Words: 1198 - Pages: 5
...Ever Since a child I can remember the opportunities I had to write. It starts from the first time picking up that big fat number two pencil in preschool and kinder garden. To the short story, book report on that book you read back in fourth grade, up to now having to write essays in college, and letters for our corporate world we living in today. For me Writing has never been a piece of cake. I have always had problems writing. It seems when it comes to me; sometimes, when I write it feels like it’s going to come out right. “while it’s in my head”, but as soon as I write it down on paper I make many mistakes with punctuations, missed spelled words, swapping letters around, and other things of that nature. It irritates me terribly. Writing makes me feel uncomfortable. The feeling I have about writing may or may not be a bad thing. The reason I can’t stand writing at all is due to the fact I am dyslexic, words are always scrambling in my head, and I mix up letters a lot, sometimes I even see things backwards and things that are not really there. For instance I can see girl correctly but when I write it down it may come out as gril. “Backwards” I also have some major insecurity’s about my hand writing. It’s just flat out terrible. Some people can’t even read it. This can be so embarrassing. When it all comes down to it; at the end of the day, writing now days, is a necessity to my life like a hand bag, jewelry, or transportation. I have to have to write letters, send...
Words: 304 - Pages: 2
...about an endangered species like an animal or a plant. I think there were four winners out of this. I remembered Mrs. Rother explained to us about this contest, it had an individual drawn picture on a postcard of an endangered species. Right of the bat I cried because I hated drawing. I put a lot of pressure on myself, I really wanted to win and do a good job. One of the endangered species was a Nuttall Oak leaf. I like leafs and flowers so I decided to do this leaf. I started tracing the leaf which turned out really big and the stems were crooked. However, I erased it and started over. My idea for this leaf was to combine colors you would see on a leaf and colors you might not see on a leaf together and make the colors heavy using colored pencils. Once I got done with my leaf I waited for the results. The announcements came on for the finalists. I didn’t think I was going to make it because it looked ugly to me so I didn’t pay attention. I waited a couples days to hear but I was the last one be called. Surprised, I was overjoyed by the fact I made it even though my leaf was ugly in my opinion. I went to the location of where they were hosting the event. I collected my certificate which John Hoskins signed and the Director of...
Words: 516 - Pages: 3
...Alert and concentrated. Eyes squinted in determination to write the letter correctly. He is holding the pencil quite tightly, adding to the absolute determination he has to get this right. He writes slowly but carefully, trying to get the shape correct. He skims the paper to check his hard work, takes a deep breath and looks at me with excitement. I check the letter with hope that he got it correct this time, relief floods me as I look into his giddy eyes and break out into a smile. He had done it. Conquered writing his first letter in the English alphabet. This scene was during my volunteer experience at a summer program for refugee children who have been resettled in America escaping persecution and violence in their home countries of...
Words: 700 - Pages: 3
...when Julio's wife Fidela gave birth to a baby, Ka Ponso, whi happened to be visiting his property then, offered to become its godfather. Afetr that they began to call each other compadre. "Dear Compadre," Julio started to write in Tagalog, bending earnestly over a piece of paper which he had torn out of Jose's school notebook. It was many months ago, when, just as now, he had sat down with a writing implement in his hand. That was when he had gone to the municipio in Mansalay to file a homestead application, and he had used a pen, and to his great surprise, filled in the blank forms neatly. Nothing came of the application, although Ka Ponso had assured him he had looked into the matter and talked with the officials concerned. Now, with a pencil instead of a pen to write with, Julio was sure that he could make his letter legible enough for Ka Ponso. "It's about my boy, Jose." he wrote on. "I want him to study this June in Mansalay. He's in the sixth grade now, and since he's quite a poor hand at looking after your carabaos, I thought it would be best that he go to school in the town." ...The kerosene lamp's yellow flame flickered ceaselessly. The drank smell of food , fish broth, particularly, that had been spilled from many a bowl and had dried on the form, now seemed to rise from the very...
Words: 633 - Pages: 3
...Journaling for Yourself 1. 1 Find something that can become your journal. You can use a notebook, legal pad, blank book, word processor or whatever you like for your journal. Just make sure that it contains blank pages you can write on, and that the pages are bound up so they won't scatter and get lost. Ads by Google One Man's Story Life was good but then it started falling apart. Then dad died. www.thoughts-about-god.com 2. 2 Find a writing tool. If you chose to use a word processor in Step 1, you can skip this step. If you're using an actual book, locate a pen you like. (You can use pencil to write in your journal, but it will fade dramatically over time.) Some journal-keepers have a particular brand of pens that they prefer, or they favor a certain style (such as gel pen over ballpoint). Either way, your writing implement should feel comfortable in your hand and help you write at a pace you enjoy. 3. 3 Set up a routine. You might want to carry your journal with you wherever you go, so that you can write down your thoughts as they strike you. Or you might choose a particular time each day to sit down and clear your head. Whatever you decide, make it a habit. Journaling as part of a routine will make you more likely to stick with it. 4. 4 Chose a setting that's conducive to writing. Place yourself in an environment that makes you feel like writing, whether it's the privacy of your own room or a busy coffee shop. If you're not sure where you like to...
Words: 1300 - Pages: 6
