Olusegun Ariyo
US President Donald Trump’s billionaire adviser, Elon Musk, has shared a video posted by another user extolling the benefits of free markets and complex supply chains.
In the video shared by Musk on his X account on Monday, US economist Milton Friedman used the example of a pencil to explain how different stages in different parts of the world contributed to its creation.
“Thousands of people cooperated to make this pencil,” Friedman, who died almost two decades ago, said.
It’s the “magic of the price system”, he added, noting that that is why the operation of the free market is so essential.
“Not only to promote productive efficiency, but even more, to foster harmony and peace, among the peoples of the world,” Friedman said.
This is coming two days after Musk suggested that the US and Europe could develop their economic relationship toward eliminating the need for tariffs.
The Tesla CEO disclosed that he had advised Trump to bolster the relationship with European countries.
“At the end of the day, I hope it’s agreed that both Europe and the United States should move ideally, in my view, to a zero-tariff situation—effectively creating a free trade zone between Europe and North America,” Musk said.
Trump had last week imposed sweeping tariffs against nearly every major country in the world.
However, world leaders have promised to retaliate against the tariffs.
