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Wiz Imp

(6,655 posts)
9. In reality, nobody benefits from false economic data
Mon Aug 4, 2025, 09:41 AM
Aug 4

Accurate data is absolutely necessary to make all kinds of business decisions that impact the economy. If you use fake data, then those decisions will unavoidably be faulty, running the risk of killing the economy as a result. Likewise, if the only data available is faulty, economists and other decision makers are smart enough to see that and will not use the data in their decision making process. But if no alternative is available, these folks are left with substituting their own "best guess" as to what is really happening, running the same risks as using fake data.

Most people wouldn't understand it, but not having accurate economic statistics available would have a significant negative impact on everybody's lives.

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