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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While I don’t think Mike Price should’ve been fired (people go to strip clubs… even football coaches), this ruling from an Alabama court seems just so very wrong. Magazine reporters aren’t able to protect sources?
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