I, Toaster: Home Appliances under Autarchy
Instead of Leonard Read’s classic I, Pencil, I have been using The Toaster Project in teaching as a more contemporary take on the division of labour, specialisation and the gains from trade. Thomas Thwaites gave a presentation on it at TED, which be viewed here. While it is amazing he got as far as he did, it is also a disturbing glimpse into the counter-factual of life under autarky.
posted on 13 January 2011 by skirchner in Economics
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