Economics and reality
By Dr Frank Shostak Assumptions that some economists are employing in their theories appear to be detached from the real world. For example, in…
Dr Frank Shostak
Dr Frank Shostak is a leading Austrian economist and director of Applied Austrian School Economics Ltd, which aims to assess the direction of various markets using the Austrian School methodology. AASE aims to make Austrian economics accessible to businessmen.
Why people pay higher prices for some goods versus other goods?
By Dr Frank Shostak Why do individuals pay higher prices for some goods versus other goods? The common reply to this is the law…
The present monetary system is heading for a breakdown
By Dr Frank Shostak By popular thinking a growing economy requires a growing money stock on the ground that economic growth gives rise to…
Defining what a recession is
By Dr Frank Shostak Most economic commentators consider a softening in economic statistics such as gross domestic product (GDP) as indicative of a likely…
Government not monopolies undermine individuals’ wellbeing
By Dr Frank Shostak By popular thinking, monopolies are seen as undermining individuals’ wellbeing. For instance, monopolies are being blamed for causing large increases…
Why economic growth causes price decline not increase?
By Dr Frank Shostak Some economic commentators are of the view that whenever the economy strengthens it should be the role of the Federal…
Can data by itself inform us about the real world?
By Dr Frank Shostak In order to make the data “talk,” economists utilize a range of statistical methods that vary from highly complex models…
Government outlays and economic growth
By Dr Frank Shostak A key factor that constrains people’s ability to generate goods and services is the scarcity of funding. Contrary to popular…
Theory and curve fitting
By Dr Frank Shostak By popular thinking, our knowledge of the world of economics is elusive – it is not possible to ascertain how…
Is the assumption of money neutrality valid?
By Dr Frank Shostak By popular economics, the key for businesses success is that they must pay attention to consumers’ wishes as manifested by…