Zasady przeliczania nakladow finansowych poniesionych w latach 1945–2010 przez Muzeum Palacu w Wilanowie i jego poprzednika prawnego/Rules of Counting Financial Costs Incurred Between 1945 and 2010 by The Palace Museum in Wilanow and Its Legal Predecessor

Miroslaw Klusek ()
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Miroslaw Klusek: University of Agriculture in Cracow

Annales. Ethics in Economic Life, 2014, vol. 17, issue 2, 97-111

Abstract: Between 1945 and 2010 the Palace Museum in Wilanow and its legal predecessor incurred particular financial costs which could be expressed in money (in circulation), in nominal values. The aim of this article is to express the costs according to unchanged price measures: the American dollar, gold and rye. The conducted research shows that the overall costs borne by The Palace Museum in Wilanow between 1945 and 2010 were 297 mln zl (Polish currency), after counting which included money exchange and denomination, or $124 mln (in USD). According to the average exchange rate in 2010, it gives the sum of 375 mln z³ ($1 equals 3,02 zl). The costs measured in rye equalled 10.5 mln q (average price of rye in 2010 was 1 q = 42,12 zl). In the end, it gives the sum of 442 mln zl. As to world gold prices, the costs were 542,000 ounces of pure gold (in 2010 1 ounce of gold costs $1421,6). It gives $771 mln according to the average exchange rate in 2010 and 2329 mln z³ ($1 = 3,02 zl). It can be a matter of discussion which one of these three measures shows the real value of the costs incurred since 1945. Fortunately, there is no question that a counting method which takes into consideration exchanged money and denomination ought not to be used in measuring nominal values.

Keywords: re-privatization; exchange rate; price of gold (search for similar items in EconPapers)
JEL-codes: L92 M14 (search for similar items in EconPapers)
Date: 2014
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