In this Freeman column, economics professor Tyler Watts explains why we ought to stop looking at government GDP statistics and start thinking about this question: how can we make the most productive use of limited resources?

Keynesians try to bamboozle people into believing that government spending “stimulates” the economy, but all that does is to divert resources away from productive uses determined under competition and into non-productive (and often counter-productive) uses determined by coercion.