Principles for a Changing World Order by Ray Dalio
Rating: 5-Star
Date read:
🚀 The Book in 3 Sentences
- Good economical history and framework to understand short and long term debt crisis as well as changes in political regimes / systems based on their financial and social situation.
- Very thorough examination through the model that Ray Dalio and his team made to guide them through decision making in investment contexts.
- A business approach to an economical problem. A model that helps understand the world around us and mitigates some of the risk related to placing investment (bets) in complex economical systems.
🎨 Impressions
It was a very good book. But also hard to consume. It is in a style that resembles more a typical academical publication than a standard non-fiction book. I really liked it and there’s a lot to learn from it.
How I Discovered It
It has been recommended by several people online and I know Ray Dalio from his previous book “Principles”.
Who Should Read It?
Anyone who likes economics, history and/or business. Or just wishes to understand a little bit more how the system around us is set up.
☘️ How the Book Changed Me
- Big picture changes affect my regular life more than I thought of. Clearly things that happen in my country of residence are important, but it turns out that decisions that are made in countries thousands of kilometers away have also major repercussions in day to day life and the future ahead.
✍️ My Top 3 Quotes
- “No system of government, no economic system, no currency, and no empire lasts forever, yet almost everyone is surprised and ruined when they fail.”
- “Before there is a shooting war there is usually an economic war. As is also typical, before all-out wars are declared there is about a decade of economic, technological, geopolitical, and capital wars, during which the conflicting powers intimidate each other, testing the limits of each other’s power.”
- “The single most reliable leading indicator of civil war or revolution is bankrupt government finances combined with big wealth gaps.”