OCT 22, 2013 PROGRAM:
But What About Tomorrow? Minnesota and the New Economy

Posted by Sherry Howe

on Oct 22, 2013

The Great Recession has been over for more than four years and the economy is growing. But we will not return to where we once were. Recent economic and demographic events have changed the outlook for as far as we can see. We are moving to a New Normal. A number of forces are at work, but the most important is that we – both Minnesota and the nation – are getting older.

The number turning age 65 has increased dramatically and growth in the workforce is about to slow sharply. The individuals, firms, institutions, and regions who recognize these changes and who begin to adapt first are likely to be the most successful in the future. Tom Stinson will discuss the implications of the structural economic and demographic changes which are now just beginning for Minnesota’s economy.

Tom Stinson is a professor in the University of Minnesota’s Department of Applied Economics. Between 1987 and 2013 he also served as Minnesota’s State Economist where he was responsible for preparing the state revenue forecast. A native of Washington State, Tom received his Ph.D. in economics from the University of Minnesota. Author of many journal articles and research reports and a past president of the Minnesota Economic Association Stinson worked for the U.S. Department of Agriculture’s Economic Research Service conducting research on tax related topics before assuming his position with the University of Minnesota.