How the Economic Machine Works

Created by Ray Dalio this simple but not simplistic and easy to follow 30 minute, animated video answers the question, "How does the economy really work?" Based on Dalio's practical template for understanding the economy, which he developed over the course of his career, the video breaks down economic concepts like credit, deficits and interest rates, allowing viewers to learn the basic driving forces behind the economy, how economic policies work and why economic cycles occur.

Ray Dialo, the founder of the hugely successful hedge fund Bridgewater Associates explains how he started, how he did not build his fund by avoiding pain. He built it by turning pain into rules. Being wrong forced humility, humility forced diversification, and diversification turned into a system. That applies way beyond investing as most people experience pain.