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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Found this gem via The Raitt Stuff via Atrios. Who knew that Bush had such a firm grasp on modern physics? Especially since he has trouble pronouncing my fifth grade vocabulary list…
December 4th, 2003 at 3:08 pm
awesome. I liked his quantum explanation.