Principles for Dealing with the Changing World Order

Why Nations Succeed or Fail

By: Ray Dalio

Narrated by: Jeremy Bobb, Ray Dalio

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.

Critic reviews

"After Ray Dalio presents his introduction and first chapter with believable authority, American actor Jeremy Bobb performs the balance of this sweeping history of civilization with exceptional fidelity to the author’s thinking. Bobb’s muscular vocal tone and relaxed pacing convey deep confidence in the economic and social trends the author describes. Along with his consistently clear and comfortable enunciation, Bobb demonstrates the vocal confidence that is necessary for writing that is assertive and dense with meaning."

Doesn’t bite the hand that feeds

I generally appreciate the openness with which Dalio shares his thought processes. However, in this book he clearly steers clear of directly acknowledging the IP theft and other abuses of the Chinese government. He also gives surprisingly warm praise to President Xi of China. It’s clear his financial ties (investments) to China keep him from being too critical of that country.

Great Perspective, but Loses Steam

Dalio's insight is very interesting. After a few chapters the content wains and keeps getting regurgitated.

pet peeves: Constantly using "etc" and "and so on"

Most Illuminating book I’ve read in two generations

Dalio uses thousands of years data and logic to uncover patterns in the rise and fall of empires. History does repeat itself. This is a brilliant book that high schools and colleges worldwide would benefit from adopting into their curriculums. Superb economic history and investing insights.

great insights

it was a bit redundant and the frequent reference to charts and diagrams simply illustrates the limitations of"reading" a book like this using audible. the book did a good job of trying to lay out principles and showing the reader to draw their own conclusions. helpful for me to consider some long held biases that have different angles and perspectives.

Socialist bias

It is a good book and offer an interesting historic perspective about economic cycles, considering how different countries approached their challenges throughout centuries.