July 01, 2009
The Toaster Project and The Great Conversation

You might have by now read about The Toaster Project, a project in which a student at the Royal College of Art in London tries to make a toaster completely from scratch. Here's Radley Balko's article on his piece, and here is a reply by the artist, Thomas Thwaites, that takes exception to Balko's interpretation.

From what I can gather, his project accomplished its purpose: to get people talking. I'm looking forward to finding ways to incorporate his project into the parts of econ 101 where I cover "I, Pencil."

Posted by Art Carden at 02:49 PM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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