Why ChatGPT Failed an Economics Exam

University of Rochester economist Steve Landsburg joins Bob to discuss the abysmal performance of ChatGPT on his undergraduate exam. They also discuss the importance of market prices in guiding behavior and the unexpected problems with the government handing out "free" goodies.

Bob's article "Superman Needs an Agent:" https://Mises.org/HAP400a
Steven's Book The Armchair Economist: https://Mises.org/HAP400b
More Economic brainteasers: https://Mises.org/HAP400c

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00:00 Introduction
00:26 ChatGPT taking an Economics Exam
03:51 Economics Exam Questions
08:36 Logic and Distribution of Goods
17:21 Fear and Misunderstanding Surrounding Prices
22:12 Economic Brain-Teasers
26:41 Shocking People into Thinking Differently
28:42 Social Costs and Benefits of Having Children
46:50 More Economic Brain-Teasers