Changing World Order
by Ray Dalio · first published 2020
31mentions
12recommended by
26HN commenters
2020–2026first – last mentioned
46% recommend54% neutral
Why HN recommends it
Long-cycle view of history that explains recurring debt, money-printing and power-shift patterns, and where the U.S. stands now. Suits readers wanting economic context beyond the last few decades.
Summarised by Claude from recommending comments
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…stares. I think it's just really hard for people to understand phenomena that occur at time scales of say more than a decade. (BTW Another good book about recurring economic cycles is Dalio's 2022 The Changing World Order. All of this stuff has happened before. This is separate from crypto, and relates to the global economic environment.)
on “Binance to acquire FTX” ↗Ray Dalio's Changing World Order is a good read. https://www.youtube.com/watch?v=xguam0TKMw8
on “Mental illness, mass shootings, and the politics of American firearms (2015)” ↗The linked article only looks at the time period of the last 50 years. If you believe in big cycles (like covered in Ray Dalio’s “The Changing World Order”), expand that perspective to several hundred years and market returns don’t look quite as guaranteed over a given 20 year period. I’m still formulating my own thesis but it’s a good read if you are into…
on “How will the correction in the stock market impact startup fundraising?” ↗If you aren't familiar with Ray Dalio's Principles for a Changing World Order, I can't recommend it enough (both the book and the YouTube video). You'll understand a lot better where the U.S. is in it's history and why so much is the way it is. https://youtu.be/xguam0TKMw8
on “Uh, guys, we should think about spending more on defense in the US” ↗…you rethink and see deeper 2. Dao of Capital. Book by Mark Spitznagel -- goes into tail risk hedging, and his counter-intuitive investment thesis. He made 4000% over Covid 3. Dalio's essays -- from "The changing world order" to "Debt Crises"
on “Ask HN: What are you reading to make sense of the economy?” ↗…lot, but I'm not sure where to find it. Even though it's not quantitative models, I can only recommend "Navigating big debt crisis" by Ray Dalio. Also, he published some chapters of his new book -- The changing world order -- online recently: https://www.principles.com/the-changing-world-order/#introdu...
on “Fed’s Balance Sheet Exceeds $7T for First Time in History” ↗This is a deeper read on the same subject by Ray Dalio https://www.principles.com/the-changing-world-order/
on “The Fraying of the US Global Currency Reserve System” ↗…for what it's worth, but I found it hard to read the book, then take a look around, and not think he might be onto something. [1] https://www.youtube.com/watch?v=TISMidxdZoc [2] https://www.amazon.ca/Changing-World-Order-Nations-Succeed/d...
on “A chat with Ray Dalio” ↗> financialization I think you are totally right, but particularly nationally. Ray Dalio's Principles of a changing world order explains the macro forces around Boeing. He predicts we are headed for civil unrest as the rich get richer and the poor get poorer, and that we are definitely creating the conditions for world war particularly…
on “How the wrong side won at Boeing” ↗…money. Financialization[4], a force which frequently gets referenced in Boeing threads, is just another consequence of poor monetary policy, as is decline of Rule of Law[5]. Ray Dalio's Principles for a Changing World Order is the best explanation I've seen for the general state of America and its clear decline (45m): https://www.youtube.com/watch?v=xguam0TKMw8 [1]https://en.wikipedia.org/wiki/Bretton_Woods_system [2]https://en.wikipedia.org/wiki/Fiat_money…
on “Boeing chief must have engineering background, Emirates boss says” ↗I watched it and I found him less convincing than Dalio's Principles of a changing world order, which I found to be extremely intuitive although not at all rigorous. Ezra gave Rogoff a lot of push back and Rogoff came off as a guy who intuitively understands things but doesn't rigorously understand…
on “Era of U.S. dollar may be winding down” ↗Ray Dalios new book "Changing World Order" gives a good overview of how this crazy money printing / QE is the end game of a governments monetary policy before their demise. People think it can keep going forever before it collapses. Most people…
on “Crypto, the Left and Technofeudalism” ↗I mostly read newspapers and technical journals, but two books that I read that made an impression: "The Changing World Order" and "The Gulag Archipelago".
on “Ask HN: What did you read in 2025?” ↗See Ray Dalios Changing World Order book They also have that Let it Rot problem so who knows
on “Elite Overproduction” ↗Regarding inflation: Ray Dalio has a bit in his latest book Changing World Order where he points out what nations/empires in the past have done when faced with similar situations that the US now finds itself in. When debt is high, and country fundamentals are decreasing (like internal…
on “The Capital Sponge” ↗