Dalio Says Capitalism's Income Inequality Is National Emergency
- Hedge fund founder says on ‘60 Minutes’ that reform is needed
- Inequality spurs risk of conflict, Bridgewater chairman says
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While President Donald Trump is focused on the national emergency he’s declared to secure the southern U.S. border, the billionaire founder of the world’s biggest hedge fund is more worried about losing the American dream.
Capitalism must be reformed because it’s not producing enough opportunities for most Americans, creating an income gap that threatens to spark conflict, Ray Dalio, the Bridgewater Associates co-chairman, said in an interview airing Sunday on CBS’s “60 Minutes.”