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It seems that to some extent it even will accelerate inflation. It is unconditional,
Will strengthen requirements of separate groups of workers, whose real salary should
To fall ,
To save invariable their real wages. But it means that everyone
Increase of someone's rates of wages concerning the others will be
To turn around growth of nominal rates at all workers, behind an exception
Differently, it seems to me that these and any other attempts to accept the rigid
The prices and rates as inevitability and to adapt for them the monetary policy
One of steps which are at first sight dictated by practical necessity,
But in long-term prospect doing structure of rates of wages all
More and more rigid and by that the leader to market economy destruction. But
Political requirements of today should not excite
The scientist-economist. Its problem as I will not get tired to repeat, consists in that,
To make politically possible that today still politically
It is impossible. To decide that it is possible to make at the moment, there is a problem
Policy, instead of the economist who should underline constantly that the persistent
Movement in the given direction conducts to accident.
I completely agree with professor Fridmanom in a question on inevitability of inflation
At existing political and a financial system. But I am assured that if we
Let's not change existing political conditions, it will lead to destruction of ours
Civilisations. In this sense I recognise that my radical offer,
Concerning money, possibly, it will be realizable only as a part much more
Far-reaching changes of our political system. But this part - rather
Essential and in the near future it will be recognised by necessary. Two
Various reforms of an economic and political order offered by me
University of Chicago Press, London and Chicago, vol. I, 1973, vol. II, 1976,
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