The Competitive Enterprise Institute, in collaboration with the Foundation for Economic Education, has put together a terrific video illustrating the classic 1958 essay, "I, Pencil," by Leonard Read.

The essay - cited by Milton Friedman in Free to Choose and read by millions - explains how markets coordinate far-flung activity involving economic actors without a need for coercion and central planning.

Watch by clicking above and go here to read more about the video and the essay on which it's based.