these prices easily. These latter two conditions require monetary freedom, i.e., sound value reckoning - with freedom to choose between competing value standards - and also freedom to issue private and non-coercive exchange media. If prices and wages are not fast and voluntarily adjusted but people resist these changes then they will have to accept a degree of unemployment as a result of their actions. When not reducing their price or wage demands, they will not be able to sell e.g. their goods or labour at above market level prices. They will then have priced themselves out of the market. Thus they are then voluntarily, not involuntarily unemployed, that is they are not unemployed in the meaning discussed here. (See the notes in section IV) They might as well ask for a weekly wage of 1 million dollars and complain afterwards about their unemployment. They certainty could not rightly complain that ending inflation caused their unemployment. 5. The adjustment of prices need not take place for all prices at once but could be done gradually, enterprise by enterprise, to the extent that they opt out of monetary despotism and make themselves monetarily independent. While for others inflation would still continue, they could reckon in honest alternative value standards and pay in honest private exchange media and insist in being paid in them. They could then price all their goods and services in stable standards and at market prices. They could make this adjustment for their own immediate benefit like e.g. the German Railway did before the Great German Inflation ended on 19 November 1923. Thus private gold pricing could finally set all price relationships right even before the printing presses of the government are brought to a halt. In other words, as a result of many such individual adjustments for individual benefit, there would be no general adjustment problem. 6. One distinction is not merely nominal but fundamental: The end of inflatio...
