I read things like this and get reminded of the 2002 Economist article that reported “Experts seem to agree that Americans find it harder than most people to evaluate risks accurately.” Unfortunately, a lot of this is ignorance and a active avoidance of real data, statistics, and research. We like getting our news in sound bites.
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sujal
11/24/2008
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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