Let our ending be also our beginning. 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 that, as a person of influence, Mr. Dalio will present a more advanced, more adequate 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