Lilly in Lviv (Lvov, Lehmberg), Ukraine
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Uploaded by wagiboy on Jan 23, 2012
With my Lubimaya Lilly in Lviv, Western Ukrainian City, in the winter of 2012, January 14 to 16. Lviv - formerly named Lehmberg - used to belong to the Austrian-Hungarian empire. During that time Ludwig von Mises was born in Lviv (1881). Lviv was a free and trade city buzzling with business activity. No doubt the young Ludwig was taken in my this free commerce. Later Mises became the greatest contributer to the Austrian school of economics, proving why a centralized planned economy is inferrior to a free market economy. Mises business cycle theory also applies to today: It is the expansion of credit and money that causes these busts.
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