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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.

(via @newsweek, Newsweek’s Twitter feed)

2:42 pm | leave a comment
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Excerpt:

Finally a few more people understand the press wars are on. Kristof:

With President Bush leading a charge against this “disgraceful” newspaper, and a conservative talk show host, Melanie Morgan, suggesting that maybe The Times’s executive editor should be executed for treason, we face a fundamental dispute about the role of the news media in America.

At stake is the administration’s campaign to recast the relationship between government and press.

More broadly, the one thing worse than a press that is “out of control” is one that is under control. Anybody who has lived in a Communist country knows that. Just consider what would happen if the news media as a whole were as docile to the administration as Fox News or The Wall Street Journal editorial page.

When I was covering the war in Iraq, we reporters would sometimes tune to Fox News and watch, mystified, as it purported to describe how Iraqis loved Americans. Such coverage (backed by delusional Journal editorials baffling to anyone who was actually in Iraq) misled conservatives about Iraq from the beginning. In retrospect, the real victims of Fox News weren’t the liberals it attacked but the conservatives who believed it.

Historically, we in the press have done more damage to our nation by withholding secret information than by publishing it. One example was this newspaper’s withholding details of the plans for the Bay of Pigs invasion. President Kennedy himself suggested that the U.S. would have been better served if The Times had published the full story and derailed the invasion.

Then there were the C.I.A. abuses that journalists kept mum about until they spilled over and prompted the Church Committee investigation in the 1970’s. And there are secrets we should have found, but didn’t: in the run-up to the Iraq war, the press — particularly this newspaper — was too credulous about claims that Iraq possessed large amounts of W.M.D.

9:28 pm | leave a comment

An interesting dissection of a NYT column praising the Milwaukee voucher program. (Note, I didn’t read the original times article which requires a fee, but the information is interesting anyway). (via this site)

5:27 pm | leave a comment