The Memo by Howard Marks cover image

Shall We Repeal The Laws of Economics?

The Memo by Howard Marks

NOTE

Economics Prevails Over Idealism

Economic realities, driven by the principles of supply and demand and the power of incentives, are immutable and must be respected. Despite appealing theoretical frameworks for centrally planned economies, historical evidence shows that such systems fail to deliver sustainable benefits. Economies that recognize and adhere to these laws yield advantages, while those that attempt to bypass them face inevitable consequences and underperformance. Unlike the political realm, where promises can be limitless, economics fundamentally involves trade-offs.

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