Thread: Wien: U.S. Risks Slow Growth, Declining Standard of Living

Wien: U.S. Risks Slow Growth, Declining Standard of Living

Monday, 22 Feb 2010 02:13 PM
By: Dan Weil

The United States is unlikely to see economic growth above 3 percent in the next five years, while developing economies grow more than 5 percent, says Byron Wien, senior managing director of private equity titan Blackstone.

“The biggest problem the U.S. is facing is the productivity of capital,â€

Ironically much of the Third World is so starved for capital that it is more efficient by this index than the United States and Europe. More good could be brought about by getting immigrant families to invest than bring in more members illegally. We need to resist the forces and incentives that keep this from happening.