Principles for Dealing with the Changing World Order: Why Nations Succeed or Fail

Ray Dalio

Nov 2021 · Simon and Schuster · Narrated by Ray Dalio and Jeremy Bobb

About this audiobook

NEW YORK TIMES BESTSELLER * MORE THAN ONE MILLION COPIES SOLD

“A provocative read...There are few tomes that coherently map such broad economic histories as well as Mr. Dalio’s. Perhaps more unusually, Mr. Dalio has managed to identify metrics from that history that can be applied to understand today.” —Andrew Ross Sorkin, The New York Times

From legendary investor Ray Dalio, author of the #1 New York Times bestseller Principles, who has spent half a century studying global economies and markets, Principles for Dealing with the Changing World Order examines history’s most turbulent economic and political periods to reveal why the times ahead will likely be radically different from those we’ve experienced in our lifetimes—and to offer practical advice on how to navigate them well.

A few years ago, Ray Dalio noticed a confluence of political and economic conditions he hadn’t encountered before. They included huge debts and zero or near-zero interest rates that led to massive printing of money in the world’s three major reserve currencies; big political and social conflicts within countries, especially the US, due to the largest wealth, political, and values disparities in more than 100 years; and the rising of a world power (China) to challenge the existing world power (US) and the existing world order. The last time that this confluence occurred was between 1930 and 1945. This realization sent Dalio on a search for the repeating patterns and cause/effect relationships underlying all major changes in wealth and power over the last 500 years.

In this remarkable and timely addition to his Principles series, Dalio brings readers along for his study of the major empires—including the Dutch, the British, and the American—putting into perspective the “Big Cycle” that has driven the successes and failures of all the world’s major countries throughout history. He reveals the timeless and universal forces behind these shifts and uses them to look into the future, offering practical principles for positioning oneself for what’s ahead.

Ratings and reviews

A Herculean undertaking to write and publish this book with so many technical nuances and granular analysis. I am skeptical that this provides any insight beyond a conservative investment approach, in conclusion, avoid fiat systems that are overlevereged. It's a dangerous approach to draw conclusions from non-statistical or peer reviewed work, particularly around human nature and the economy, and to guess the future via determinants that may not be relevant in the future.. There are some grains of wisdom in this book, but the deep analysis without strategic investment advice generally illustrates how overly complex investment is and interdependent things are so as to prevent perfect foresight. They speak about determinism underlying the investment strategy, but I suspect we are far off until much better A.I. and quantum computers are developed. We may be on the precipice of great global prosperity or total destruction. The only thing known is that all of our predictions will be wrong.

Normal challenges are not to be disturbed; at all touched, or have own domain entered. It's a master and leader of own life. Breathing is mastered by the toddler year because growing out of the word is the only way to bigger ones behind them. Meditating: yoga, walking and talking the same year provide strength for own schedule of busy people. Combining the words science and religion for 'let there be light" are required for psychiatrist's evaluation result of normal - defends own money well - being. To get normal results from the doctors is the only survival. These is not more from them then normal or not.

Great Book for Macro views and history would be 5 star but if you read Big Debt Crisis and comprehended all the market crashes studies and details like currencies, Technical Analysis of cycles, world history, macro economics and the impact policy has had, then you be able to speculate/prepare for the coming decades (economically/Markets/Fed/Life) along w see how steps taken already have repeated/rhyme and use to invest profitably Actual book is more useful w charts audio for history/generalist

About the author

A global macro investor for more than 50 years, Ray Dalio founded Bridgewater Associates out of his two-bedroom apartment in NYC and ran it for most of its 50 years, building it into the largest hedge fund in the world under his leadership. He is now in a stage of life in which he wants to pass along and help people learn about principles that have helped him, especially in markets and the economy. He is a long-running New York Times bestselling author of Principles: Life and Work, Principles for Dealing with the Changing World Order, and Principles for Navigating Big Debt Crises. He graduated with a B.S. in Finance from C.W. Post College in 1971 and received an MBA degree from Harvard Business School in 1973. He has been married to his wife, Barbara, for 46 years and has three grown sons and seven grandchildren. He is an active philanthropist.