How the Economic Machine Works Part 2
Principles by Ray Dalioยท2025-08-26 13:21
In a transaction, you have to give something in order to get something. And how much you get depends on how much you produce. Over time, we learn.And that accumulated knowledge raises our living standards. We call this productivity growth. Those who are inventive and hardworking raise their productivity and their living standards faster than those who are complacent and lazy.But that isn't necessarily true over the short run. Productivity matters most in the long run, but credit matters most in the short ru ...