Lithuanian Free Market Institute

I attended this wonderful conference with the Lithuanian Free Market Institute.

On the way back, I flew from Vilnius to Kyiv, then Kyiv to Lviv. We circled around Lviv b/c of fog, then returned to Kyiv. I spent the day there and completed the return next evening. I had the chance to visit my old apartment in Kyiv. To my horror, I could not find the 500GB flash drive I thought I had left there.

(I’ve labeled this “Mostly Tourism” simply b/c this post doesn’t get into the content of the lectures much.)

EDIT:

I’ve added this photo of Prof. Guido Hulsmann.

Professor Guido Hulsman Vilnius

There were also some great lectures by Professor Josef Sima. He showed a great sense of humor.

Despite what I suspect was a mild case of food poisoning, I attended all the conference events except for the evening bar crawls.

5 Comments

  1. Roman

    He made a chart about the adjustment which occurs when people stopped spending, and showed how it caused money to flow into the production of capital goods (i.e. investment opportunities), then substituted the increased spending for printed money and showed how that had a very different effect.

    It was an illustration of business cycle theory I had never seem before. Some one told me it was his latest work. I didn’t fully understand it, and will be looking for a video of the conference to watch it again.

    Reply
  2. Paul Vahur

    I’m one of the Roman’s Estonian friends and I also witnessed the Hülsmann lecture.

    It was little bit different from the Hayekian triangle exposition. It is certainly the same framework but a different approach. He rather wanted to show overall saving in economy does not bring about falling Aggregate Demand and also showed that the GDP measurement methodology may show falling GDP during the adjustment phase (between two EREs). I am certainly inadequate to explain it so we have to wait for his further lectures on that topic, but it is worth looking forward to.

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