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How the Economic Machine works

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Ray Dalio, the 64-year-old founder of Bridgewater Associates, the largest hedge fund in the world with some USD 150 billion under management, has quietly begun teaching his investment secrets on YouTube.

Dalio's plain-spoken 30-minute video is an oddly entertaining animated cartoon filled with provocative theories about the way the economy runs. He dispenses with the way economists have long taught economics in school, and instead explains the economy as if it were a 'machine' that he believes is much easier to understand and predict.

Dalio says he believes that the traditional approach to economics is too academic and impractical. It is one of the reasons he, and others, believe that the Federal Reserve and many other institutions missed the signs of the financial crisis.

(Full article at Nytimes.com)

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