Optimizing overall welfare is distinct from ensuring all individuals prosper; the better approach is to let markets operate freely and address undesirable side effects (safety nets, retraining, anti-competitive enforcement) rather than to mandate universal prosperity, because efforts to control markets—from the Soviet Union to California wildfire insurance—make things much worse.

normativepending

Speaker

Howard Marks

Evidence Quote

free market economies don't produce perfect solutions, but efforts to significantly control them make things much worse.

Source

More on Repealing the Laws of EconomicsOaktree Capital
Created: 6/18/2026, 2:18:14 PM

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