Ray Dalio

You know, a lot of people think Americans invented democracy.

It existed way back, you know, in the Roman and Greek times and all that.

And so he looked at the cycles.

And what he said was there's this cycle of these different systems.

One leads to another in this way where what happens is the greatest risk of democracy is an anarchy.

Because the fragments, it becomes uncontrolled.

They all have their interests.

They fight and they tear the thing apart.

And then, so what happens after that is then you get the dictator, right?

And you get, ideally, the benevolent dictator.

In other words, the one who really knows how to make good things happen, and he cares about the country, he doesn't care about his personal wealth and those kinds of things, and they create that.

Okay, to create order that comes about that.

And then in that cycle, after a period of time, you inevitably get the incompetent or selfish dictator.

And then you have a revolution and then you go to a democracy and so on.

And these things go in cycles.

And so when you're asking the question, you know, of the leader, you know, you're saying, okay, let's create a leader.

And, um,

and have them go lead, you can't ignore the fragmentation and the inability to lead in that set of circumstances.

But it didn't work because of the power of the people behaved with each other and it won't work.

Okay.