Biden “Explains” Supply Chain Issues With Stolen Milton Friedman Quote 

Biden at podium pointing to his head
(Photo by Chip Somodevilla/Getty Images)

BIDEN “EXPLAINS” SUPPLY CHAIN ISSUES WITH STOLEN MILTON FRIEDMAN QUOTE

There is nothing better than Biden explaining economics.

While explaining how the supply chain issues work, President Biden simultaneously contradicted his own party and plagiarized a famous economist.

During Wednesday’s press conference in Baltimore, President Biden spoke about the increase in inflation. Biden claimed the global supply chain problem was because of the pandemic, failing to take any responsibility of his own.

The president felt the need to explain to Americans just how the supply chain works. He uses the example of a pencil.

“Even products as simple as a pencil can’t have to use the wood from Brazil, graphite from India, before it comes together at a factory in the U.S. to get a pencil — Sounds silly, but that’s literally how it happens.”

https://twitter.com/Breaking911/status/1458551205614039045?s=20

Now weather he knows it or not, this pencil example was originally used by Milton Friedman in the 80’s, inspired by the original 1, Pencil 1958 essay by Leonard Read, to point out how the free market encourages cooperation between strangers.

https://youtu.be/67tHtpac5ws

Tony Katz points out that Biden unknowingly commended capitalism which contradicts what his party is seemingly against.

“Why does your party resent Capitalism that allows us to get the pencil for a trifling sum? You yourself have just explained that it’s capitalism that allows pencils to exist in the first place…if you have a party that’s hell-bent on saying Capitalism is bad and Capitalists are evil, you don’t get the pencils at all.”

March 12, 2021

President Biden c/o The White House
1600 Pennsylvania Avenue NW
Washington, DC

Dear Mr. President,

Did the government create the pencil or did the private market do it’s magic to make it happen?

Regarding Obama’s “you-didn’t-build-that” comment back in July, I explained why that attack on entrepreneurs and small business owners was misguided.

And I also shared some humorous cartoons on the topic.

But it is true that no entrepreneur produces a product without help from many others. But what the President apparently doesn’t understand is that almost all of the real help comes from voluntary and decentralized exchange in the private market.

This CEI video is a good introduction to this spontaneous process

I, Pencil: The Movie

Published on Nov 14, 2012 by

A film from the Competitive Enterprise Institute, adapted from the 1958 essay by Leonard E. Read

__________

And if you want to look at the topic from a different perspective, this video helps to explain how we often get much more than we pay for in a competitive market economy.

There’s also a moral argument presented in this video from the American Enterprise Institute.

Needless to say, Walter Williams is always worth reading to understand the difference between markets and statism. And here’s some good real-world evidence about the benefits of better policy.

________

Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your commitment as a father and a husband.

Sincerely,

Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733

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By WALTER WILLIAMS

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