Headwinds for the next president

Dennis Hoffman, speaking at the Economic Club of Phoenix first monthly luncheon of the 2016-2017 season, said the headwinds for the next president: Aging baby boomers are one cause for the declining labor force participation rates.

For three decades, the Economic Club of Phoenix (ECP) within Arizona State University's W. P. Carey School of Business has been at the intersection of knowledge and networking for Valley business leaders, examining the trends and policies that shape our local, national, and international economy.

At the first monthly luncheon of the ECP 2016-2017 season, Dennis Hoffman, economics professor, and director of the L. William Seidman Research Institute, discusses the causes for declining labor force participation rates. “The headwinds for the next president: aging baby boomers,” he said is one reason. “The makers have become the takers.” In fact, 10,000 people a day will turn 70 and older over the next 10 years.

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In addition to up-to-the-minute research from W. P. Carey's top economists, each ECP event features internationally renowned keynote speakers that share valuable insights on how they are meeting the challenges that face their respective industries. Jason Clemens, the executive vice president of the Fraser Institute and the president of the Fraser Institute Foundation, shared about Canada's pre-reform days and its 1990s era of restructuring, as well as the country's reform results. These lessons could be useful for the U.S. as it goes through similar problems.