inflation

As a rule they are committed to the money issue monopoly and to Legal Tender and they never consider any alternative to either. These systems themselves also help to blind them against the alternatives. A loyal monarchist does not see the positive aspects of a republican, democratic or libertarian life style. Those who prefer an exclusive gold standard to an exclusive paper standard, do indeed prefer a quality standard to the worst possible standard - but they still insist on exclusiveness and are blind to the need for freedom to exchange goods and services through unrestricted clearing, using any clearing technique, even private paper note issues, independent of the coercive paper-money policies governments like to pursue and also of gold production, gold stocks and imposed gold redemption requirements, without having to adapt ones prices or production to the quantity of any exclusive exchange media made available by any "monetary authorities" with despotic powers, even if they are otherwise libertarian ones. Inflation is no cure for unemployment and unemployment is no cure for inflation. The existing "stagflation' should be sufficient to prove this. Nor is unemployment an unavoidable side-effect of stopping inflation. This would only be the case if one insisted on retaining the system of monetary despotism (a system which always leads to a fluctuation between inflation and deflation, when it does not lead to both at the same time) and (or) upholding economic interventionist measures like e.g. coercive wage and price controls. Inflation is a characteristic of monetary despotism and falls with it - including its unemployment features. It does not lead to additional unemployment, not even temporarily, under monetary freedom, i.e. in a market economy which is free also in the monetary sphere - and, naturally in all other respects. Unemployment is one of the main features of a monopolistic, centralized and coercive money system an...