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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For a non-baseball fan I seem to be posting alot about baseball. Although, I must say, Lupica makes a number of good points here. There is absolutely no reason for the union to be standing in the way of this. This is just yet another example of all the problems baseball has.
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