of a growing and gradual one, starting with private gold pricing and gold clauses in contracts and market rates for the Inflated currency and with sound, parallel private note issues to counter any currency shortage when and wherever it occurs. Hindrances to this adaption and instead the retention of monetary despotism would indeed bring about or preserve unemployment. The unemployment inherent in central banking would not be overcome. To a large extent there would be a self-caused unemployment by people who have priced themselves out of the market. This is not the kind of unemployment this essay is about. The anti-inflationary measures should not be blamed for this. They would just reveal this abuse. 2. When some industries reduce their staff as a result of a statist currency reform "ending" inflation and when there are high unemployment benefits provided out of taxes, then many will rather loaf and receive these benefits as long as possible than go out looking for and accepting available work at market wages. During the last government-organized recession in Australia such "benefits" were paid to the tune of up to $ 150-250 a week. Paying men not to work can be successful as such - but it does not prove genuine unemployment or at least not unemployment to that extent. 3. The attempt may also be made not only to stop the note printing presses but also to withdraw notes from circulation - forcing all prices and wages down in a deflationary way in order to reach e.g. a certain parity between paper and gold. This would cause unemployment now, as it has in the past, when the exclusive and forced currency system is retained and private sound issues remain suppressed, It would lead to the unemployment caused by falling prices as discussed under I/6. 4. Another faulty approach to "stopping" inflation would be the replacement of the existing currency at an arbitrary rate (not the market rate) by another state paper money which is subject to j...
