University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting

by Daniel Pecaut

Buffett noted that the U.S. economic system is strong and can take a lot of abuse. He said that the difference between great economic policy and poor economic policy could be a difference of just 1% annually in the GNP. That is, the GNP might grow at (X-1%) instead of X% due to misguided policies.