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Research Library

Throughout our history, Bridgewater has focused on building the best possible understanding of global economies and markets. These unique insights drive our innovative investment management, inform global economic policy, and deliver returns for our clients. Here is a collection of our best thinking and insights so you can learn more.

The economy is like a machine. At the most fundamental level it is a relatively simple machine, yet it is not well understood. Our founder Ray Dalio wrote the below white papers and created this video to describe how he believes it works.

How The Economic Machine Works

Video | September 2013

How does the economy really work? This simple but not simplistic video by Ray Dalio, Founder of Bridgewater Associates, shows the basic driving forces behind the economy, and explains why economic cycles occur by breaking down concepts such as credit, interest rates, leveraging and deleveraging.

I. HOW THE ECONOMIC MACHINE WORKS

I. HOW THE ECONOMIC MACHINE WORKS

RESEARCH PAPER | JANUARY 2015

The economy is like a machine. At the most fundamental level it is a relatively 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. I feel a deep sense of responsibility to share ...

II. DEBT CYCLES

II. DEBT CYCLES

RESEARCH PAPER | JANUARY 2015

Decade-changing anniversaries such as “big” birthdays, weddings and calendar changes are appropriate times to put things in perspective. Since we are leaving the 2000 decade behind and entering into the 2010 decade, that’s what I am going to attempt to do here ...

III. PRODUCTIVITY AND STRUCTURAL REFORM

III. PRODUCTIVITY AND STRUCTURAL REFORM

Research Paper | JANUARY 2015

In 1996, Bridgewater Associates established the All Weather principles for asset allocation, which have now been more broadly adopted under the banner “Risk Parity.” In 2004, Mr. Dalio wrote an article in which he explained these principles. That article is reprinted...

Conversation About How the Economic Machine Works

Conversation About How the Economic Machine Works

Audio Interview | July 2014

This is a thought-provoking interview between Ray Dalio and Larry Summers, President Emeritus of Harvard University and former U.S. Treasury Secretary and is based off Dalio's 30-minute animated video entitled "How the Economic Machine Works."