With the media, we don't know what's true, and we don't have radical transparency because we're seeing everything through somebody else's eyes. There's no other industry that has as much power and as much freedom and as little quality control. I can't imagine how anyone could not think that's a problem.
Ray DalioI'm just saying that if you understand how the economic machine works, it just works like a machine. There are cause-effect relationships.
Ray DalioSome people have subject matter expertise in one thing. Some people tend to be creative but not reliable, and others are reliable but not creative. Everybody has different dimensions.
Ray DalioCompetitiveness is really what it costs you per man-hour to get you what you want. In other words, there's an education level that plays into the mix and so if it's inexpensive to buy an hour of real good education in places like China versus the U.S., that factors in.
Ray Dalio