In a nutshell, poor education, a poor culture (one that impedes people from operating effectively together), poor infrastructure, and too much debt cause bad economic results. The best results come when there is more rather than less of: a) equal opportunity in education and in work, b) good family or family-like upbringing through the high school years, c) civilized behavior within a system that most people believe is fair, and d) free and well-regulated markets for goods, services, labor, and capital that provide incentives, savings, and financing opportunities to most people.
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About Ray Dalio
Ray Dalio was a contemporary American investor and hedge fund manager. Raymond Thomas Dalio is an American billionaire and hedge fund manager, who has been co-chief investment officer of Bridgewater Associates since 1985. He founded Bridgewater in 1975 in his New York City two-bedroom apartment. Read more on Wikipedia →