d it falls with it - provided the market is otherwise free also. To the extent that prices and wages are free to adjust and are immediately adjusted, and that value reckoning and the transfer of values are completely free and that people know the techniques of stable value reckoning and of providing sufficient exchange media at free market rates - there will be no unemployment - except a voluntary one, Under freedom the price collapses in any industry whose prices were inflationarily boosted would lead merely to corresponding wage and profit reductions (or losses) and a corresponding incentive for workers to look for other and better paying jobs. But it would not necessarily lead to unemployment even in these industries. Instance: Just because excessively high food prices would come down does not mean that unemployment among farmers would result. During the adjustment period not even short-term unemployment need occur but merely a voluntary transfer of labour - overnight or within days at most - from one industry or enterprise to another due to government spending being reduced and replaced by private spending which is somewhat other-directed in its preferences, and due to wages being reduced in some industries and increased in others. To the extent that people will continue to price themselves and their goods out of the market and try to work with an exclusive paper standard and an exclusive and coercive exchange medium, their efforts will be "rewarded" by the effect of their measures: a corresponding unemployment. But for this they have no one and nothing to blame but themselves. Involuntary unemployment can happen only in a market which is not free monetarily or otherwise. It cannot happen when money issues and value reckoning in particular and property and trade and trade in general are completely unrestricted. Under monetary freedom enough private and non-inflationary currency (various competing currencies subject to free market ra...
