Tracing consequences both seen and unseen.
Eric D. DixonI, Toaster
Posted at 5:20 pm on January 15, 2011, by Eric D. Dixon

This guy reinvents the lessons of “I, Pencil,” by trying to build a toaster from scratch:

[Cross-posted at Shrubbloggers.]


Filed under: Gains From Trade, Technology
Comments: 1 Comment
 

1 Comment »

  1. […] at The Lesson Applied.] — Eric D. DixonComments […]

    Pingback by The Shrubbloggers » I, Toaster — October 26, 2011 @ 4:37 pm

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Henry Hazlitt"[T]he whole of economics can be reduced to a single lesson, and that lesson can be reduced to a single sentence. The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups."
Henry Hazlitt, Economics in One Lesson
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