Economics Explained By a Guru

How the Economic Machine Works by Ray Dalio. The economy works like a simple machine. But many people don't understand it- or they don't agree on how it works - and this has led to a lot of needless economic suffering.

Ray Dalio runs Bridgewater Associates, a very large and successful hedge fund. He is one of the most respected practitioners of his craft in the world. His 30 minute video above on how the economy works, which is currently doing the rounds, is well worth taking the time to watch by any student of economics. (The paper may be found here).