Welcome to Bill Wood Analytics
Everybody wants to play economist, but nobody wants to lift the heavy-ass thoughts.
Our collective consciousness is bombarded daily by a barrage of mind-numbing propaganda about the economy and the field of economics. Marketing campaigns and populist politicians are the major culprits, but pop artists, sports stars, and attention-starved celebrities also generate a lot of "economics-lite." This assault on our sensibilities has been amplified by social media.
I am not quite to the point where "I am mad as hell..." (note: If you do not recognize this reference to the movie Network, then you should watch it ASAP), but I am headed in that direction. My solution is to launch this website.
I want to offer articles and essays that challenge the some of the deficient ideas that seem to dominate mainstream thinking. My offerings will undoubtedly improve with enlightened input from others, so I encourage dialogue and feedback.
Most of the time I write about the plastics industry, but my research and analyses of economics, plastics, and manufacturing often generate insights and perspective on religion, education, energy policy, the environment, etc. So it is time to expand my focus beyond plastics and manufacturing.
One trend that has accelerated with our increased useage of information technology is our competitive desire to predict future events. But before we can have any hope of forecasting future outcomes, or even possibilities, we must first achieve an accurate accounting of now. We must develop a precise, honest, and dispassionate analysis of prevailing issues. This type of approach is normal in the fields of engineering and science, but it is all-too-uncommon in both politics and what is often presented as economic analysis.
The US economy is based on capitalism. Our system of government is based on democracy. These two systems overlap in our personal lives, but they are not the same thing. There are too many times in which market principles are inappropriately applied to problems that should not be assessed with market-based solutions. And then there are times when sound, market-based solutions are appropriate, but they are inhibited for political reasons.
We are citizens of a country and members of a community. We must self-govern within our own households. We are also suppliers and consumers in the marketplace. And another trend that must be acknowledged is that these roles become more complicated with each passing day.
If we are going to succeed in the long-run as a country, community, or household, then we must commit to a life-long process of self-improvement and self-education. My hope is to be of some assistance in this process.