Why dollars in our pockets have value?
By Dr Frank Shostak Why does the dollar bill in our pockets have value? According to some commentators, money has value because the government…
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.
Without valid theory, the knowledge of the world of economics is not possible
By Dr Frank Shostak According to popular thinking, it is held that by means of statistical and mathematical methods one can organize an historical…
How unbacked lending weakens the wealth generation process
By Dr Frank Shostak For most commentators lending is associated with money. However, is this the case? We suggest that a lender lends savings…
Macro-economic data: tool for government intervention
By Dr Frank Shostak It is common for commentators and economists to refer to something called the “economy” – which sometimes performs well and…
Concepts in economics and the facts of reality
By Dr Frank Shostak In his Philosophical Origins of Austrian Economics (Mises Institute Daily Articles June 17 2006), David Gordon writes that Bohm Bawerk…
Are savings harmful to economic growth?
By Dr Frank Shostak Most commentators’ regard savings as harmful to economic growth on the ground that savings are associated with fewer outlays. These…
Can consumer and business surveys ascertain the future direction of economy?
By Dr Frank Shostak In order to gain insight into the current and future state of an economy, many economists hold that it is…
Gold standard and boom bust cycles
By Dr Frank Shostak According to the Austrian Business Cycle Theory (ABCT), the boom-bust cycle emerges in response to a deviation in the market…
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…
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…