Ray Dalio: What coronavirus means for the global economy

What coronavirus means for the global economy

"I'm a capitalist. I believe in the system. I believe you can increase the size of the pie and you could divide it well," says Ray Dalio, founder of Bridgewater Associates. He offers wide-ranging insight and advice on how we might recover from the global economic fallout of the coronavirus crisis -- and use it as an opportunity to reform the systems that help grow our economy. (This virtual conversation is part of the TED Connects series, hosted by head of TED Chris Anderson and business curator Corey Hajim. Recorded April 8, 2020)

The global economy faces a historic "stress test" similar to the 1930s, marked by sudden shocks, massive job losses, and unprecedented government intervention. Recovery will not simply be a return to the old ways but demands creative adaptation and tough choices about fairness. A striking wealth gap persists, with the top 40 percent spending five times more on children's education than the bottom 60 percent. The turmoil highlights an urgent need to rethink capitalism, prioritize collective action over self-interest, and ensure basic security for all.