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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Not sure how this ruling wasn’t bigger news. Also, this ruling makes me uneasy for a number of reasons, but I have to withhold any comment until I’ve read more… the summary presented omits too many details.
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