Demand is best measured in terms of spending. You know, I think in traditional economics, it's a mistake to measure it in terms of the quantity of goods.
Ray DalioThere is an excellent correlation between giving society what it wants and making money, and almost no correlation between the desire to make money and how much money one makes.
Ray DalioLife is like a game where you seek to overcome the obstacles that stand in the way of achieving your goals. You get better at this game through practice. The game consists of a series of choices that have consequences. You can't stop the problems and choices from coming at you, so it's better to learn how to deal with them.
Ray DalioWhen you're faced with a choice, you have one of three choices that you can have. You can have those with power decide. You can have one man, one vote. Or you can have believability-weighted decision-making.
Ray DalioOver time, it also became important for me to share my management principles with the people I worked with because we had to agree on how we should be with each other - and that way is unique. Because the logic behind being radically honest and radically transparent with each other wasn't clear, it had to be spelled out in these principles.
Ray Dalio