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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This is an interview with my buddy Kareem’s startup, EduFire. I like what they’re trying to do, though they are facing an uphill battle in an industry where I’m not convinced the private sector can really help.
November 29th, 2007 at 1:03 pm
The private sector can *always* help.
November 30th, 2007 at 3:21 pm
thanks for the link, sujal. based on who we’ve talked to, short of blowing up the system and starting from scratch, the only way we’ll see true reform is if outside players force change by providing a better product for customers… which is where we come into play.
November 30th, 2007 at 4:16 pm
hey, I’m on board with the idea of shaking up the system in ways like this. My point wasn’t that private sector can’t help, period, but that government has a big role here.
The biggest reason for that is that private companies don’t care about anything but dollars, and that’s imperfect motivation when a system aims to cater to all customers rather than those than can afford to pay.
I trust you guys, but I’m not sure I’d trust an unregulated market. Even a regulated market (Telecoms, cable?) really suck in terms of consumer choice.
Sujal