This is a slightly-revised repeat of a Post of 9/11/18. It remains relevant to Mr. Dalio’s thinking.
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 even further so as to understand the real grounds that might make his predictions successful . We hope that, as a person of influence, Mr. Dalio will convey a more advanced, explanatory understanding of the economic process to the nation and the world.
On 9/11/18 Ray Dalio, Co-Chairman and Founder of Bridgewater Associates, appeared on TV and reviewed some highlights of his new book, A Template for Understanding Big Debt Crises. The book is presently available as a free PDF (with some strings attached). An alternative, no-strings-attached, 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.
Mr. Dalio’s comments were cogent; they were somewhat aligned with much of what Lonergan has provided in his scientific systematics of the economic process. Both would agree that the repetition of crises is not inevitable; crises are caused by repeated mismanagement. But what Dalio loosely describes Lonergan precisely explains. Continue reading