Donald Boudreaux: “I, Pencil” Turns 50

Posted on Thursday, December 18, 2008 at 12:02 pm

leonard_read.jpgDon Boudreaux at Cafe Hayek: This month marks the 50th anniversary of one of the most insightful economics essays ever penned — “I, Pencil.”  It wasn’t written by a professional economist; it was written by Leonard E. Read, founder and long-time president of the Foundation for Economic Education. Although Read was no professional economist, his understanding of the way market economies work, and his ability to explain that logic in clear and compelling terms, far surpasses that of all but a tiny handful of PhD-sporting economists.