Is laboratory in economics possible?
In the natural sciences, a laboratory experiment can isolate various elements and their movements. There is no equivalent in the discipline of economics….
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.
Cut in government outlays is the true tax cut
We suggest that projects that government undertakes can be classified as wealth squandering. The fact that the private sector does not undertake these projects…
Why the policy of price stability leads to more instability
One of the duties that a central bank is expected to fulfill is to keep the general level of prices in the economy stable….
How Keynesian ideas continue to destroy the economy
As a result of the coronavirus pandemic most experts are of the view that it is the role of the government and central bank…
Can an increase in the demand for money neutralize the effect of a corresponding increase in money supply?
According to popular thinking, not every increase in the supply of money will have an effect on the production of goods. For instance,…
Why the present monetary system is heading for a breakdown
Most economists hold that a growing economy requires a growing money stock, on grounds that growth gives rise to a greater demand for money,…
Savings the heart of economic activity
It is held by most mainstream economists that spending is the heart of economic activity. Economic activity is depicted as a circular flow…
Importance of a theory in economics
It is a common belief that sound economics must be based on facts and not on theoretical reasoning as such. Some commentators are…
The essence of inflation
The popular definition cannot explain why inflation is bad According to the popular way of thinking, inflation is defined as a general increase…
Lockdowns and the economy
The imposition of lockdowns to counter the spread of the infection from the coronavirus is likely to severely damage the real economy. As…