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1 of 425 are essays by Leonard E. Read

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Read, Leonard E.
I, Pencil

A classic essay illustrating the importance of economic activity and free markets, and the breadth of their reach. Economist Milton Friedman said of this essay, "I know of no other piece of literature that so succinctly, persuasively, and effectively illustrates the meaning of both Adam's Smith's invisible hand -- the possibility of cooperation without coercion -- and Friedrich Hayek's emphasis on the importance of dispersed knowledge and the role of the price system in communicating information that 'will make the individuals do the desirable things without anyone having to tell them what to do.'" Originally published in The Freeman by the Foundation for Economic Education.