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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Just in case you didn’t get enough of those two Chinese boys, here they are doing another Backstreet Boys hit. Thanks, Josh. 
November 19th, 2005 at 2:41 am
Its the matching jumpsuits that really makes it art, unfortunately, now they’re just hamming it up for the camera. This one doesn’t have quite the same ring to it…