Are recessions about a decline in GDP?
By Dr Frank Shostak According to the National Bureau of Economic Research (NBER), the institution that dates the peaks and troughs of the business…
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.
Does economic growth pose a threat to living standard?
By Dr Frank Shostak According to the New York Times (NYT) article July 17, 2022 –“The pioneering economist says our obsession with growth must…
The policies of price stability result in economic instability
By Dr Frank Shostak For most commentators the role of central authorities is to make the economy as stable as possible. What do they…
Fed’s tighter interest rate stance likely to prolong economic slump
In response to the strengthening in the yearly growth rate of the consumer price index (CPI) to 8.6% in May from 5% in May…
US Treasury secretary admits she was wrong about inflation prospects
By Dr Frank Shostak According to the Financial Times June 1, 2022, Janet Yellen, the US Treasury secretary conceded she was wrong last year…
Does increase in government budget deficit promote economic growth?
By Dr Frank Shostak Some commentators hold that during an economic slump it is the duty of the government to run large budget deficits…
A tighter versus easy stance
By Dr Frank Shostak After a prolonged period of easy monetary policy, the US central bank the Fed has embarked on a tighter monetary…
The neutral interest rate fairytale
By Dr Frank Shostak On April 19, 2022 at the Economic Club in New York, the Chicago Federal Reserve Bank President Charles Evans said…
Interest rate determination : Mainstream view versus the Austrian School view
By Dr Frank Shostak The conventional view, as presented by Milton Friedman is that three factors determine market interest rates. The first factor being…
Theory and the facts of reality
By Dr Frank Shostak According to the popular way of thinking, our knowledge of the economy is elusive. Consequently, the best that we can…