Newsweek’s Daniel Gross explains the Consumer Price Index (here’s the official BLS site) in a very simple video. I could do without the goofy sound effects, but it’s a good, 2 minute explanation of how the government tracks inflation.
Per David Simon’s Berkeley talk, though, the video doesn’t go into why this matters. Perhaps they’ll cover that in the next installment of the Economics 101 series.
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Ok, so it’s not exactly funny. Quite somber, actually. It’s an interesting perspective, even if it’s a bit over the top (it would make a great attack ad, that’s for sure). Found on Dan’s blog.
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