5min chapter

The Knowledge Project with Shane Parrish cover image

#53 Howard Marks: Luck, Risk and Avoiding Losers

The Knowledge Project with Shane Parrish

CHAPTER

The Greatest Contributor to Global Economic Maximization

How would you conceptialize how the world would best be maximized? How do we unleashd that potential across the globe? Well, that raises a real interesting question, jane. You use the term maximise, and the greatest contributor to global economic maximization is globilization. I mean, let's say you have two countries, mine and yours, and we're really good at raising sheep, and you're really good of turning leather into shoes. And then some politician erects a wall. No more trade in sheap leather or shoes. Now i have to try to learn how to make shoes. And so in this new world, i can only produce forty pairs of

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