Shocked and dismayed, the purveyors of conventional wisdom made the circular argument that the unexpected rise in the overall price level was caused by the rise in commodity prices, especially the tripling of the price of oil.

FORBES: Higher Inflation Is On The Way

But that argument is circular.

ECONOMIST: A Middle Eastern time-out?

Both sides have their points, but the argument has become sterile and circular.

WSJ: Change in Tone Depends on Obama

Ethiopia's government may or may not have benign intentions, but your argument would be more compelling were it less circular.

ECONOMIST: Waiting for the bust