Hoadley notes that there has been an economic recovery, as indicated by lower unemployment and inflation rates, and explains how it came about. He believes that people will become more interested in their quality of life than their quantity of tangible goods, and he itemizes the causes behind this new American dream.

Hoadley's biography includes: Executive vice president and chief economist, Bank of America NT&SA, San Francisco, 1968-81; senior research fellow, Hoover Institution, 1981-2003; president, Commonwealth Club of California, 1987; author, "Looking Behind the Crystal Ball," 1988.