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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I know that not everyone loves unions, but they serve a purpose, and a valuable one at that. Sure, they should play by the rules, but so should the government. The referee shouldn’t be rooting for one of the sides.
