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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I bought someone this a few years ago, and I’ll tell you, it didn’t work. Its sad, but it didn’t work. However, if you have a caffeine addicted friend you want to torment, totally get them this (sorry friends, I’m off caffeine now. Your taunting won’t work on me! muahahah!)
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