A Principled Review of 'The Changing World Order'
Image: Amazon (not an affiliate link).
As we’ve covered in countless blogs, and pieces of research over the past few years, the world is changing rapidly. This is having profound impacts on the way that the world operates, people behave, and the marketing industry works.
The tendency for people to focus on the here and now, means that we rarely learn from history, or furthermore, learn from history outside our lifetimes. This sets the stage for what is a truly remarkable book created by Ray Dalio titled ‘The Changing World Order’. This is not an affiliate link, as we write for reputation only.
However, our aim of this piece is to get you to read the book, so we’ll avoid doing a poor job of explaining the concepts that are explained so well within it. Instead, we will explain its relevance in today’s society and emphasise its value.
A rare insight
We live in a world where success is usually reduced down to individual brilliance rather than the conditions they are faced with or the teams they develop. In this book, we see the power of bringing people together within a framework of collaboration. Ray attributes his success to building a team based on collaboration using an ‘idea meritocracy’ as outlined within his best-selling first book—Principles: Work and Life.
We must therefore begin by thanking Ray and his team for being able to put together such an incredible level of insight. This is rarely seen in any books covering similar topics.
Furthermore, we applaud Ray’s motivations in sharing what he has learnt with the reader. He does exceptionally well in treating the audience with respect. He speaks to the reader as is a teacher in a classroom full of ambitious students ready to pick his brains. It is assured without being over competent. Humble without being diminutive.
And perhaps most importantly, as with all great books, it builds empathy with readers of all backgrounds. Few people will be able to live the life that Ray’s success has brought him, yet he speaks in human terms that we can all relate to.
A story of cause and effect
To us, the book achieves two major things. The first is to tell the story of the rise and fall of nations over recorded history. The second is to do this objectively without imprinting opinion over the cause and effect relationships that are discovered as a result.
To achieve this, Ray compiles extensive datasets and information and then uses this to establish principles, which can then be applied to similar situations. This is incredibly well described throughout the book. He also makes the point that detail can often obstruct the bigger picture. This is highly impactful, as in life, we tend to conflate information at differing levels. For example, the news may present a story about global warming, followed by another about the prices of groceries going up in a particular store. Both have merit, but the societal impacts of both are not comparable.
Fundamentally, it is Ray’s ability to share the information objectivity by constructing models that sets this book apart. This objectivity can be seen in the way he discusses key issues such as the relationships between countries. He avoids the stereotypical arguments that are made about nations or siding with one audience to present both sides in every situation. In effect, he is not pushing a low-level agenda.
An unpredictable outlook
There is of course a clear agenda and point to be made from the book, and Ray is keen to point it out. At one level, he explains that the western world is facing a very unpredictable future and that the past provides an excellent indication of the potential outcomes – if not one outcome in particular. At another, he sharpens our consideration of the impacts on ourselves, our lives and society in general. Although they may not be the most palatable things to think about, they are worth considering rather than blindly being surprised by them when they happen.
Thank you, Ray!
We finish once again by thanking Ray for the book. By no means, given the profile of his business ventures, did he need to write this. If, as he explains, he desires to be involved in the evolutionary sharing of ideas from one generation to the next, he has certainly achieved it. As behavioural economists ourselves, albeit in the marketing realm, we are certainly inspired.
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