How Countries Go Broke: The Big Cycle by Ray Dalio (Hardcover)

How Countries Go Broke is investor Ray Dalio's study of government debt and the long cycles that drive it. He asks whether very large national debts threaten our shared wellbeing, and whether a leading reserve-currency country such as the United States could actually go broke. It is aimed at investors, policymakers and readers who want to understand the forces behind today's economic headlines.

• Sets out Dalio's Big Debt Cycle model, which he credits with anticipating the 2008 financial crisis and the 2010 to 2012 European debt crisis
• Points to fairly simple remedies for the debt problems facing the US, Europe, Japan and China
• Links debt to political, geopolitical, natural and technological forces, including AI
• Shows how these forces together reshape the wider world order

Details

• Author: Ray Dalio
• Publisher: Simon & Schuster UK
• Published: 2025
• Format: Hardcover, 388 pages
• Language: English
• ISBN: 9781398551466