To ask the question if 2012 is 1980 all over again answers the question as to why returning to gold is imperative. The nightmarish economic outcomes caused by being, as Jim Grant says, on a “PhD standard” demand change, and more people realize it each and every day.

My online course on logic at the Mises Academy has one main emphasis: how to analyze arguments, especially arguments about philosophy, politics, and economics. I’ve found that many, if not most, writers on these subjects fall victim to common fallacies.