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

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

The book is outstanding. It's a must for anyone interested in world history, geopolitical interrelationships and how they could shape the future of the world. I believe he nails the domestic social & political issues causing schisms within American society and its consequences if the schism widens. That being said, as you get through the book it becomes evident that Ray is clearly biased towards a pro-China outlook for the future. Nowhere in his assessment does he take into account demographics, China's dependency on imports for food and energy or its clear lack of experienced military leaders. Nor does he put much emphasis on mutual destruction and its implications to prevent actual confrontation between the US and China. Overall the book is absolutely outstanding and every single member of Congress should read it.

This book is a master piece. Like everything Ray Dalio does, He has reduced world history and cause and affect relationships, Randomness and human psyche to core concepts. This is a must read for very one who want to understand the world mechanics.

About the author

Ray Dalio is Founder, Co-CIO and Member of the Bridgewater Board, which, over the last forty years, has become the largest and best-performing hedge fund in the world. Dalio has appeared on the Time 100 list of the most influential people in the world as well as the Bloomberg Markets list of the 50 most influential people. He is also #1 New York Times bestselling author of Principles, Principles for Navigating Big Debt Crises, and Principles for Dealing with the Changing World Order. He lives with his family in Connecticut.