Book Hack
How Countries Go BrokeBy Ray Dalio

In a Nutshell

Hedge-funder Ray Dalio explains the economic cycles that all societies must navigate, and how they affect the world order.

Favorite Quote

I saw how this big, long-term debt cycle was described in the Old Testament, how it repeatedly played out in Chinese dynasties over thousands of years, and how time and again it has foreshadowed the fall of empires, countries, and provinces.

Ray Dalio

Introduction

Money is one of the biggest considerations of day-to-day life — for individuals, corporations, and countries alike.

However, many of us don't understand how money works, or why keeping economies afloat has been, and continues to be, a global struggle.

In his 2025 book, How Countries Go Broke, global macro investor Ray Dalio explains the 'Big Debt Cycle': what it is, how it happens, and what can be done to interrupt it.

Drawing on his vast experience in the financial sector and research into current and historic debt cycles, Dalio explains how today's global economic situation might change the world order and what governments can do about it.

Here are the 3 key insights from this Hack

1.
The ‘Big Debt Cycle’ is an almost unavoidable phenomenon
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