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#53 Howard Marks: Luck, Risk and Avoiding Losers

The Knowledge Project with Shane Parrish

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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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