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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Not kidding… if you don’t believe me, just read Kareem’s post which contains the immortal line (referring to the spelling bee):
Best. TV. Ever.
And I’m working from home today… dammit!
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