Why ChatGPT Failed an Economics Exam

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Why ChatGPT Failed an Economics Exam

June 16, 2023

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Free markets have provided an abundance of goods and comforts for even low-income households. But constant government intervention in the work, lives, and incomes of the poor continues to create many barriers to economic success, writes Ryan McMaken.See here, here, and here for more

9 years ago

Government likes to put out lots of data showing things like income and employment for huge numbers of people. The problem is, this tells us almost nothing about how real-life people are hurt or helped by government intervention, writes Gary

9 years ago

In recent years, some economists, contrary to long-established and widely-accepted economic theory, have been claiming that increases in the minimum wage do not increase unemployment. But both logic and the data say otherwise, writes Andrew Syrios.This audio Mises Daily is

9 years ago

The Europeans have decided to limit funding and credit extended to the Greeks. This puts the Greek financial system under pressure, but there are free-market solutions that could set the Greeks on the path to a sound economy, writes Frank

9 years ago

Many have tried to create a division between "political freedom" and "economic freedom." But all freedoms ultimately depend on economic freedom, and our view of economic exchange dictates our view of politics, writes Patrick Barron.This audio Mises Daily is narrated

9 years ago

The new Netflix series Marco Polo might have descended into a forgettable story of palace intrigue, but it fortunately explores far more interesting themes of family, loyalty, and how the state demands everyone sell out his values a little more

9 years ago

We're now in the world of negative interest rates, and Mises’s insights about human action are the key to understanding the implications of this, and in understanding the impossibility of a negative “natural” or “originary” interest rate, writes Thorsten Polleit.This

9 years ago

Natural rights are fundamentally different from goods and services. Judge Napolitano explains in his new book how the acquisition of a mere service — security — cannot be based on the destruction of rights, which cannot be traded away, writes

9 years ago

Brazil's government has long been devoted to the idea that more government spending will create more economic prosperity. For a time, it seemed to work, but now reality and disillusionment have set in, writes Antony Mueller.This audio Mises Daily is

9 years ago

Thanks to the central bank, those who worked hard and "played by the rules" all their lives now face an uncertain future as inflation chips away at their savings and threatens their financial stability, writes Shawn Ritenour.This audio Mises Daily

9 years ago

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Why ChatGPT Failed an Economics Exam

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Did the MMT Camp Correctly Predict the Post-Covid Economy?

Did the MMT Camp Correctly Predict the Post-Covid Economy?

Did the MMT Camp Correctly Predict the Post-Covid Economy?