On March 14 The Projekt Lodz Foundation and The Polish-American Foundation for Education and Economic Development organized a visit in our city of Mr. K Scholland. Mr Scholland, who serves as a professor of economics and political science at the Hawaii Pacific University in Honolulu, wrote a famous free-market book for the youth "The Adventures of Jonathan Gullible".
Our guest met students of the 1st Mikolaj Kopernik College, with whom he discussed issues of emigration. He argued that choosing freely the country of living is one of basic human rights and critisized its limitations.
Later on, Mr. Scholland delivered a lecture at the Management Department of the Lodz Technical University, entitled "Causes and Cures for Monetary Crisis". In it he claimed that the current financial crisis was caused by the moral hasard phenomenon, introduced to the banking system by the state, which over-guarantees its safety. He negatively assessed the governmental plans of rescuing big financial institutions, due to the fact that they usually support mismanged projects. So far, the total cost of such a safety net exceeds military expenditures of the Second World War and Vietnam.
