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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Interesting development. more on this at CTLP, including details on how management is going to fight this. At some level, we’re going to need to understand how the Indian tribes can ignore some laws but not others. I don’t know enough to even begin to comment on that.
