I will use an allegory. I am a drunkard. A doctor is called, who after seeing my condition predicts that I will die within a year if I do not stop drinking. Being a "convicted" drunkard I do not pay attention to him. Then, a quack is called. He asks me what I am drinking, how much etc. He sees that my condition is bad, but he knows that it is impossible to convince me to stop drinking. So, he uses a "roundabout" approach. He tells me that the kind of vodka I am dringing is not good, but that I should drink more than I do now; however he prescribes the new "vodka" which actually is 90% of water and only 10% of alcohol. He knows, that this will not cure me; but, on the other hand, it will prolong my life. As I see it, the problem of inflation depends on the institutional structure of society. We know that inflation is bad. It is socially destructive, it does not cure but, the opposite, makes the situation more maladjusted. But, taking as an example the U.S. and only, the forces which fight for inflation xadd which think that it solves, or helps to solve their problems, are very strong, and it is doubtful whether they can be subdued by other than revolutionary methods. The presidents of the labor unions are so entrenched in their executive offices, that in a democratic society it is almost impossible to remove them. For them inflation is good; in during an inflation it is easier to fight and get raises in money wages; it is true that for enventually all prices go up, but because the worker is to day one of the first in the spiral of raising prices, he benefits most. How dangerous is inflation? Ignoring, the debtor- creditor relations, the danger of inflation lies in, and is proportional to the length of time from the beginning of the "wave" till the moment when all the layers of population have adjusted their income to the new "level of prices". If the duration of the "wave" is very short