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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Track & Validate
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August 10th, 2004 at 12:38 pm
Yes, I had one a while ago… you need to be able to store it… or have room for it. It is a great exercise but make sure the seat track is solid… if it gets a little bit wobbly, get it fixed right away because if it breaks, the machine is shot.