The Great Wave
this dynamic leads to a very small percentage of the population gaining and controlling exceptionally large percentages of the total wealth and power, then becoming overextended, and then encountering bad times, which hurt those least wealthy and least powerful the hardest, which then leads to conflicts that produce revolutions and/or civil wars. W
... See moreRay Dalio • Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail
