The Phillips curve myth
By Dr Frank Shostak According to a popular way of thinking, the central bank can influence the rate of economic expansion by means of…
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.
Interest rates and the Fed what is the relation?
By Dr Frank Shostak It is widely held that the central bank is a key factor in the determination of interest rates. By popular…
Is inflation about increases in prices?
By Dr Frank Shostak The recent large increases in the growth rate of the US consumer price index (CPI) has fueled concerns that if…
Emotions versus reason in economics
By Dr Frank Shostak According to a relatively new field of economics called Behavioural Economics (BE), emotions play an important role in an individual’s…
How increases in money supply cause economic bust
By Dr Frank Shostak The increase in the growth rate of the consumer price index (CPI) has fueled concerns that if the rising trend…
Profits not risk drive entrepreneurs
By Dr Frank Shostak According to Modern Portfolio Theory (MPT), financial asset prices fully reflect all available and relevant information, and that any adjustment…
Why econometric models cannot ascertain facts of reality?
By Dr Frank Shostak While in the natural sciences a laboratory experiment can isolate various elements and their movements can be followed through, there…
Relation between Inflation and Deflation
By Dr Frank Shostak For most commentators inflation is about persistent increases in the prices of goods and services. However, is this the case? …
Monetary pumping and idle resources
By Dr Frank Shostak As a result of the recent strong stimulatory policies employed by the US government and the Fed, most commentators are…
Monetary savings versus real savings
By Dr Frank Shostak According to the National Income and Product Accounts (NIPA) the US personal savings rate stood at 13.6% in February against…