In this piece on the Cobden Center website Dr. Frank Shostak explains why dubious government economic statistics are meaningless in the free market:
"What possible use can an entrepreneur make out of information about the
rate of growth in gross domestic product (GDP)? How can the information
that GDP rose by 4% help an entrepreneur make a profit? Or what possible
use can be made out of data showing that the national balance of
payments has moved into a deficit? Or what use can an entrepreneur make
out of information about the level of employment or the general price
level?"
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