Jamie Dimon: The US economy only grew at 20% over the past decade when it should have grown at 40%.

 Yahoo Finance reports that Jamie Dimon, CEO of JP Morgan Chase, sounding like a true blue supply-sider, observed that the US economy grew only 20% over the past ten years when it should have grown 40% largely due to bad tax, regulatory and tort policy, but also advancing to skills training (a leaf out of Gary Becker’s Human Capitalism):

Speaking at an event from the firm’s New York headquarters, Dimon acknowledged that the global economy over the years has “grown enormously….It’s lifted billions of people out of poverty. It’s done quite well. It does not mean there aren’t flaws. I think we should distinguish that,” Dimon said. However, he pointed out that the American economy has grown 20% in the last decade, but argues that it should have been 40%. “A normal recovery would have been 40%. And we made a list of all the reasons why — infrastructure, bad taxation to litigation, to regulations stopping the formation of small business. But a big one is skills,” Dimon said. On Monday, JPMorgan Chase, the largest U.S. bank, announced a $350 million investment to help people train for the future of work ….”

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