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 any bloggers out there who are interested, the URLs for trackbacks to ESPN.com have changed. Autodiscovery should work as usual, but in case you notice any problems, please file a bug report at ESPN.com or let me know here (the bug report option is preferred).
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