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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On the off chance you haven’t see the really funny SNL sketch from this past weekend, here’s a link to it on iTMS. NBC and Apple are offering the video as a free download. Grab it, watch it, sing it. This is great stuff.
The guys behind this video were hired by SNL based on an amateur video project they started a while back. I would check out The ‘BU while you’re there, which features Sarah Chalke of Scrubs and Roseanne fame.
