2min chapter

The Jordan Harbinger Show cover image

613: Ray Dalio | Why Nations Succeed and Fail

The Jordan Harbinger Show

CHAPTER

What Is Populism?

There are a couple of phases here. We start out sourcing things, and then labor gets too expensive. People get decadent, less productive; we print money to avoid the default. And then we get into populism, essentially. As you come down there, and you have this set of conditions, you have both sides saying this isn't right,. So you go to greater levels of extremism and wanting to fight with each other.

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