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#251 – Ray Dalio: Money, Power, and the Collapse of Empires
Lex Fridman Podcast
The Evolution of Capitalism and Opportunity Gaps
Since 1500, capitalism has been an effective tool for building wealth because it got resources into the hands of inventive people. When they go around the world with their competitiveness, they earn a lot of money. But over a period of time, as they become more successful and more expensive, they become more expensive. So you see that they gradually lose their competitiveness, and get themselves into financial circumstances which are not good. They have large wealth gaps, which set the stage for downturns. And when they have downturns, the first question is do they have enough money? And traditionally, money is resources.
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