Economic and financial crises and macroeconomic theory.
This year’s seminar brought together over 60 participants and speakers. Deliberations opened the inaugural lecture of the Head of the Scientific Council of Instytut Misesa (IM), Prof. Witold Kwaśnicki of Wroclaw University – Macroeconomics and Austrian theory. The speaker pointed out the timeliness of the Austrian analysis in the context of the current crisis. The first day was also a fascinating debate between the prof. Kwaśnicki and prof. Tadeusz Kowalik, which was led by Dr. Mateusz Machaj.
Despite the clearly divergent views on the causes of the crisis and his prescriptions for overcoming, both speakers agreed that the market is necessary in the economy.In the course of other sessions of individual speakers issues of banking, finance, the methodology of economics, capital theory and the theory of the business cycle have been presented. In one of his lectures the team leader of the experts of IM, Juliusz Jabłecki studied regulation of the financial market and talked about the progress of the 2008 crisis which was the most present issue spoken about. Much emotion and debate provoked another instance of the speaker, in which he analyzed the effects of the introduction of the euro in Poland. In turn, Karol Lew Pogorzelski, IM specialist of the public sector, asking about the validity of the methodology of the Austrian School, proved that the discussion and methodological disputes within the school and among its supporters are the most viable. Very important elements of the seminar were the teachers training workshops. Arthur Foulkes, an American columnist and associate of the Mises Institute in Auburn, led the first part of them in which He demonstrated that the science of economics can be fascinating even for primary school pupils. The second part of the workshop, which was led by volunteers from Krakow’s Club of the Austrian School of Economics at the IM participating in the project “Lessons of economics” proved to be a great compliment of the first one. The volunteers have been successfully running this project for more then a year. They’ve been introducing economic theory elements during entrepreneurship classes in high schools in Krakow. The speakers discussed not only examples of lesson themes (interested persons received outlines for students and teachers), but also addressed the methodological issues, such as teaching materials. The classes attracted wide interest and were followed by a lively discussion.Thanks to one of the sponsors (In Vino Shop that belongs to dobrewina.pl network) first day of the seminar had an organized wine tasting event. Seminar guests could enjoy delicious vines from the countries of the Old and the New World. This year’s seminar participants could join a specialist exam of the foundations of economic theory in terms of the Austrian school. Written test, a qualifying exam to the 2nd oral part passed all of the 18 participants. The oral part – 14 of them. Four people have passed with honours.
The presentation of diplomas and certificates of participation took place on the last day on the pier of the pond in the historic park surrounding the Radziejowice Palace.
Authors: Witold Falkowski, Anna Gruhn
Translation: Karol Wieczorek