but if we look at the countries on this planet that are the most successful in terms of economics, equality, personal freedom, human rights, etc. then we find countries that made it work through regulation and strong government institutions
Yeah that's socialism. The best societies were all degrees of socialist, this includes western Europe and the USA at its mid-century peak. These societies all had aggressive, borderline confiscatory progressive taxation, large scale government intervention in the economy (in the US especially aggressive anti-trust), a generous social welfare state, and a large and professionalized civil service.
They also had large and well-organized labor unions capable of wielding power on behalf of their members and disrupting plans of the elites.
Remove those things and you quickly slide into a dystopian fascist nightmare state as the US and parts of Europe like the UK are discovering.
One has to assume that his original plan was to "buy" it then stiff them on the bill.