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miguelf's review against another edition
3.0
No one would likely confuse Ray Dalio as a prominent historian, yet he plays one for much of this doomer book. Ray founded a company that made billions betting on market movements and he credits some of that with his understanding of history, which is all well and good but much of the information he presents comes across about as credible as someone like Malcolm Gladwell (i.e., sometimes credible, sometimes not). The disaster forecasting about the US with the certainty that we are in its 5th stage (which I can’t really counter according to Dalio’s model) leads one to ponder why someone so fabulously rich as Dalio can’t come up with some better solutions or ideas to counter this inevitable demise. Maybe, oh, suitable taxation on the billionaire class or additional regulation to guardrail financial markets? In any case, I do very much appreciate Dalio's honesty and attempt to portray his worldview.
jakeyjake's review against another edition
Dalio has an interesting reading of recent dominant world powers and why it changed from the Dutch to British to USA. He speculates that the patterns he's observed point to Chinese Yuan becoming the new 'reserve currency.' The idea of a 'reserve currency' was new to me, but made sense after reading his breakdown. And the further insights about the cycle of a dominant economy taking on debt (because other countries want to use the 'reserve currency') leading to economic growth, and the increase in wages and living standards of workers in the dominant economy and how it all naturally leads to a breaking point and handover to another economy on the rise... was all kind of interesting.
That said, Ray Dalio never struck me as anything more than a shrewd investor thinking about how to make good investments. I don't recall him spending any time discussing the social implications of world powers focusing on economic growth over all else or anything more than a passing mention of slavery or taking advantage of workers in order to grow the economy. Maybe he didn't think it was relevant to this book or maybe he doesn't care much about those things, but I would've appreciated at least more acknowledgement of the human impacts of changing world orders instead of what more often felt like a suave, rich-guy-teaches-you-how-to-be-rich history lecture.
That said, Ray Dalio never struck me as anything more than a shrewd investor thinking about how to make good investments. I don't recall him spending any time discussing the social implications of world powers focusing on economic growth over all else or anything more than a passing mention of slavery or taking advantage of workers in order to grow the economy. Maybe he didn't think it was relevant to this book or maybe he doesn't care much about those things, but I would've appreciated at least more acknowledgement of the human impacts of changing world orders instead of what more often felt like a suave, rich-guy-teaches-you-how-to-be-rich history lecture.
gvenezia's review against another edition
4.0
While he isn't a proper academic, Dalio is a principled investor with a proven track-record who thinks in much wider time scales than most in the industry. His more careful and humble approach to investment is invaluable for the type of investor understands that world orders shift constantly, are somewhat unpredictable, and that investments which matter over a lifespan are irretrievably dependent on the long-historical macro environment. His communications could definitely be tighter and more rigorous, but at least the book and his ideas are easily digestible and non-jargony.
ivantable's review against another edition
3.0
Impressive book. Though it stays on the economic and political front (no surprise given Dalio’s expertise), I wish it would have covered a wider array of cultural issues that affect the rise and fall of nations. Still, quite the experience with much to ponder.
nanometers's review against another edition
5.0
A frank discussion on the boom/bust cycles that every civilization will undertake during their lifespans. Also dives into the cyclical business piece in the micro.
Important to note and take account for history, where we are and where the global trends are. I think there will be an important update in the coming few years.
Important to note and take account for history, where we are and where the global trends are. I think there will be an important update in the coming few years.
zrock's review against another edition
5.0
Less complex and more accessible than expected, with well-simplified economical and historical rundowns and a solid realist perspective on U.S.-China relations. Underscores the reality that the U.S.’s greatest enemy is, and has been, itself—not just other countries or ‘the other side’.