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The Conference Board Review® Article
OUTLOOK 2008
Financially, it's been a roller-coaster year for investors, homeowners, banking executives, overseas travelers, hedge-fund managers . . . pretty much everyone. But in "Crossing to Safety," Gail Fosler, president and chief economist of The Conference Board, sees brighter months ahead for the U.S. economy. While the breakneck pace at which emerging markets have grown is, she says, unsustainable, the United States will pull through the coming slowdown nicely, mostly thanks to consumers who keep spending through all manner of economic turbulence. And Fosler forecasts sunnier times for Americans planning vacations to London or Paris — the beleaguered dollar, she says, will make a dramatic recovery.
Who will be taking those overseas trips? A lot of retiring baby boomers, flush with savings. But as Canadian economist Linda Nazareth points out in "Leisure Envy," not every sexagenarian will have the wherewithal to travel — or even to stop working. She sees the boomers' mass retirement creating divisions and resentments between those who can afford years of pleasurable activities and family time — and everyone else, including young workers annoyed by "greedy geezers" taking advantage of senior discounts. Nazareth offers suggestions for how companies can smooth over the divisions and appeal to retirees at all levels.
Companies have other opportunities to both find new markets and, incidentally or not, make society a little better — the most obvious example being the green movement. "Best Intentions vs. Bottom Lines" features a roundtable discussion in which executives take on the most sensible ways to make environmental commitments. And sometimes, they concede, the initiative for green innovation — and the enforcement of standards — is best taken by government rather than private industry. — Matthew Budman
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Return to the January/February 2008 The Conference Board Review® issue.
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