Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, sees precedents for this era that is so often labeled as “unprecedented,” and he’s worried.
Drawing from history, he’s calling for structural change. The key, he believes, is reforming our current capitalist system in a way that expands opportunities and access to resources like good education.
“Sometimes, what happens is, as certain people become richer from the system, they also have opportunities to get advantages, such as educating their children better,” Dalio said. “So through history, there needs to be adjustments to that process, because, if not, then history has shown there’ll be revolutions against it.”
Dalio has been sharing his thoughts on the necessary reforms needed during the COVID-19 pandemic in his series “The Changing World Order.” He spoke with “Marketplace Morning Report” host David Brancaccio about what needs to be done to make sure capitalism works for everyone. The following is an edited transcript of their conversation.
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