How The Economic Machine Works

Ray Dalio
Bridgewater Associates, 2013

Level: beginner

Perspective:	Post-Keynesian Economics
Topic:	Crises, Money & Debt
Format:	Explainer Video
Duration:	00:30:59
Link:	https://www.youtube.com/watch?v=PHe0bXAIuk0

The author identifies three principal economic phenomena, which are explained: long run productivity growth as the central driver of increasing economic activity, short-term and long-term debt cycles. The latter two are explained to some detailed with reference to money creation, central banking and long term crisis tendencies. With regards to the long run debt cycle, which leads into deleveraging and recession, some policy measures which can smoothen the crisis are discussed.

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