I started reading Tony Robbins’ book “Money master the game“. The book is Okay, still working on it. On multiple occasions book mentions Ray Dalio, founder of hedge fund Bridgewater Associates and the author of famous book “Principles: Life and Work”.
After some reading about Mr. Dalio I found one of his websites, EconomicPrinciples.org. There you can find 30 minutes video in which Ray Dalio describes cyclic nature of the economy. There are three major processes that explain expansion and contraction of the economy:
- Short term debt
- Long term debt
This simple but not simplistic video by Ray Dalio, Founder of Bridgewater Associates, shows the basic driving forces behind the economy, and explains why economic cycles occur by breaking down concepts such as credit, interest rates, leveraging and deleveraging.
Checkout the website to see this video and read some in-depth research papers: https://economicprinciples.org/