A recent interview of Ray Dalio (Bridgewater Associates) is available on YouTube. An  introduction to Mr. Dalio’s thinking is available on the Bridgewater website’s home page under the title The Economy, How the Economic Machine Works.

The final paragraph of this Post is as follows: We hope that Mr. Dalio will study Bernard Lonergan’s Macroeconomic Dynamics: An Essay in Circulation Analysis (CWL 15) to advance his present considerable understanding further – from a self-described “mechanic” to a theorist of circulation analysis, whose formulations are precisely explanatory, compelling to the private sector of the economic process, and verifiable by econometricians.  We hope that, as a person of influence, Mr. Dalio will convey a more advanced, explanatory understanding of the pretio-quantital economic process to the nation and to the world.

In particular, Mr. Dalio should not speak shallowly and haphazardly of “common prosperity”; rather he should understand and master Lonergan’s theory of the basic-expansionary phase of the pure cycle of expansion.  One of the motives driving Lonergan to seek and discover the science of the objective economic process was to establish scientific grounds for social policy.  Unlike in totalitarian countries where people are free to be an obedient ant, here human persons are free to think and learn and free to conduct themselves according to the norms and precepts of the objective economic process. … … We now offer some pointers; as we say in the Welcome: Continue reading →