How Countries Go Broke: The Big Cycle

How does How Countries Go Broke use the concept of “cycles” to frame history as both repetitive and measurable? Are there countries whose economies haven’t followed Dalio’s framework? If so, how do their histories differ from this model?

The book argues that debt crises follow a predictable sequence of phases. To what extent does this mechanistic view of economics leave room for human agency, leadership, and moral responsibility? Does any institution or individual have more power to affect the economy than the others?

In what ways does How Countries Go Broke function as both an economic treatise and a warning about governance? How does Dalio’s tone and use of historical examples position the reader as both analyst and participant in unfolding cycles?