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- Principles for Dealing with the Changing World Order by Ray Dalio
Principles for Dealing with the Changing World Order by Ray Dalio
I believe the world is changing in big ways that haven’t happened before in our lifetimes but have many times in history, so I knew I needed to study past changes to understand what is happening now and help me to anticipate what is likely to happen.
I shared what I learned in my book, Principles for Dealing with the Changing World Order, and my hope is that this animation gives people an easy way to understand the key ideas from the book in a simple and entertaining way. In the first 18 minutes, you’ll get the gist of what drives the “Big Cycle” of rise and decline of nations through time and where we now are in that cycle. If you give me 20 minutes more to watch the whole thing, and I will show you how the big cycle worked across the last 500 years of history—and what the current world leading power, the United States, needs to do to remain strong.
I hope you find it valuable and look forward to hearing your thoughts.
You can buy the book on Amazon (https://www.amazon.com/Changing-World-Order-Nations-Succeed/dp/1982160276/?maas=maas_adg_7DC54053C269F971F2D2F3288B35474D_afap_abs&ref_=aa_maas&tag=maas) or in bookstores nationwide.
Key Sections:
1:33 - How I Learned to Anticipate the Future by Studying the Past
8:00 - Changing Orders
11:38 - The Big Cycle
18:26 - 500 Years of Big Cycles
18:45 - The Rise
26:16 - The Top
32:01- The Decline
39:39 - The Future
For more videos on The Changing World Order, view this playlist: https://youtube.com/playlist?list=PLykIL_1_MFWkYsR0EyZHU_3zlUK8ZNoYH
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For more from Ray:
Principles | #1 New York Times Bestseller: https://amzn.to/2JMewHb
Principles for Success, distills Principles into an easy-to-read and entertaining format for readers of all ages: https://amzn.to/34lgnNJ
Download his free app: https://principles.app.link/PFS
Connect with him on Facebook: https://www.facebook.com/raydalio
Follow him on Twitter: https://www.twitter.com/raydalio
Follow him on LinkedIn: https://www.linkedin.com/in/raydalio/
Follow him on Instagram: https://www.instagram.com/raydalio/
Follow him on TikTok: https://www.tiktok.com/@principlesbyraydalio
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Video Transcript
(dramatic music)
- [Ray Dalio] The changing world order.
The times ahead will
be radically different
from those that we've
experienced in our lifetimes,
though similar to many times before.
How do I know that?
Because they always have been.
Over my roughly 50 years of
global macroeconomic investing,
I've learned the hard way
that the most important
events that surprised me,
did so because they never
happened in my lifetime.
These painful surprises led me to study
the last 500 years of history
for similar situations
where I saw that they had indeed
happened many times before
with the ups and the downs of the Dutch,
British,
and US empires.
And every time they did,
it was a sign of the changing world order.
This study taught me valuable lessons
that I'm going to pass along to you here
in a distilled form.
You can find the comprehensive
version in my book,
Principles for Dealing with
the Changing World Order.
Let me begin with a story
that brought me to this point,
about how I learned to
anticipate the future
by studying the past.
In 1971, when I was a young clerk
on the floor of the New
York Stock Exchange,
the United States ran out of money
and defaulted on its debts.
That's right. The US ran out of money.
How?
Well, back then gold was the money
used in transactions between countries.
Paper money, like the dollar,
was like checks in a checkbook
in that it had no value
other than it could be exchanged for gold,
which was the real money.
At the time, the United
States was spending
a lot more money than it was earning
by writing a lot more of
these paper money checks
than it had gold in the
bank to exchange for them.
As people turned these checks
into the bank for gold money,
the amount of gold in the
US started to dwindle.
It soon became obvious
that the US couldn't keep its promises
for all the existing paper money,
so people holding dollars
rushed to exchange them
before the gold ran out.
