Ray Dalio writes in Principles for Dealing with the Changing World Order that there is a natural sequence that leads to the rise of empires:
- New leadership takes initiative to create a good system,
- that involves investing in strong education,
- including work ethics and civility,
- which leads to innovation and the creation of new technologies,
- improving the productivity and competitiveness of the country.
- This creates great economic output,
- revitalizing the country’s capital markets.
- When the country opens up, the world is willing to trade,
- which positions the currency as a major reserve currency,
It seems to me that there’s a translation of these dynamics on a personal note. Something along these lines:
- Learn.
- Apply what you’ve learned in inventive new ways.
- Use that differential knowledge or skill to turn it into income.
- Reinvest that income in personal growth.
- Accumulate savings over time and achieve financial freedom.