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Warren Buffett says years of US growth 'certainly lie ahead'

Buffett said American businesses will also continue to innovate


Warren Buffett-led Berkshire Hathaway's stock portfolio was valued at more than $135 billion at the end of June
Warren Buffett

Billionaire Warren Buffett remains optimistic about the and the nation’s prospects for the future.

Buffett wrote an essay for that appeared online Thursday, part of an issue edited by that was dedicated to “The Optimists.” In his essay, Buffett explained why he often says that most American children will live better than their parents.

Buffett said that even if the continues to grow at a modest pace of about 2 per cent a year, the next generation of Americans will fare better because the will still grow faster than the US population does. Buffett said American businesses will also continue to innovate.

"This game of economic miracles is in its early innings. Americans will benefit from far more and better 'stuff' in the future,” Buffett wrote.

Buffett has long been a believer in America's ability to unleash human potential with its market-based He often devotes part of his annual letter to shareholders to the topic.

But Buffett cautioned that the country needs to help those workers who are displaced by innovation and changes in the just as a rich family takes care of all of its children.

“In the years of growth that certainly lie ahead, I have no doubt that America can both deliver riches to many and a decent life to all. We must not settle for less," Buffett said.

Buffett is the investor who has led the conglomerate for more than 50 years. His company owns more than 90 businesses, including BNSF railroad, Geico insurance and several utilities.

First Published: Sat, January 06 2018. 02:58 IST