Ray Dalio
The Big CycleEmpires rise and fall on a repeating ~250-year arc measured across eight strengths: education, innovation, competitiveness, output, share of world trade, military, financial-centre status, and reserve-currency status. They rise when those climb together, peak as the reserve-currency issuer, and decline as debt accumulates, wealth gaps widen, internal conflict intensifies, and a rival ascends. Reserve-currency status is the last thing to go, which is why decline feels survivable until suddenly it is not.
Debt rising faster than income, widening wealth and values gaps, populist leaders on both wings, and a rising rival power. Dalio's own reading is that the United States is late in this cycle.
The eight measures are portable. A network state that publishes its own scorecard on those axes is speaking the same language as the states it wants recognition from.