Bridgewater hedge fund founder Ray Dalio is reopening the coffin of capitalism. The billionaire also warned of the risks of civil strife and revolution around the world.
“Capitalism in its current shape is not viable, so it must pass through structural transformations in order to begin to benefit society. Nowadays, capitalism is portraying a tool for obtaining a come, the growth of which will lead to universal prosperity in the distance, ”- said Ray Dalio in an interview with RBC.
As a model, the entrepreneur has introduced the automation of work processes. For the owners of brews, this is a leap into the future, growth has come and the reduction of costs, for workers – a layoff.
“Having turned in the level of well-being between the low-income and the rich will strengthen. Wealthy citizens will be able to invest in the education of their children, and such a society will untimely or later begin to stratify more and more, which will lead to new rounds of struggle, ”added Ray Dalio.
For changes to occur, the system must be changed, but it will be difficult to do so, as if everyone has already been integrated into this system. “Actually, this is how revolutions and particular wars occur. The story that happened in Russia is reminiscent of what is happening in the world today, ”said Ray Dalio.
In 2019 Ray Dalio has already chatted about the growing stratification of society… The billionaire warned that governments need to fight against rising inequality, otherwise a revolution awaits everyone.
In January 2020, Oxfam International experts reported that 2,153 billionaires are richer than the other 4.6 billion people on the planet. Their combined fortune is estimated at $ 8.7 trillion, and the total arms of 4.6 billion people are estimated at $ 8.2 trillion.