Quantitative methods in economics do not explain but describe
By Dr Frank Shostak Most economists regard the use of mathematical and statistical methods as the key towards understanding the complexities of economics. They…
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.
Can expansionary policies counter recessions?
By Dr Frank Shostak Whenever the signs of an economic weakness emerge, most commentators are of the view that the government should relax the…
Is our knowledge of the economy elusive?
By Dr Frank Shostak According to the popular way of thinking, our knowledge of the economy is elusive. Consequently, the best that we can…
The marginal utility theory: mainstream vs the Austrian framework
By Dr Frank Shostak Why do individuals assign a greater value to gold than to bread, when bread seems to be more “useful” than…
Psychology and economics
By Dr Frank Shostak Recently, a relatively new economics called Behavioural Economics (BE) has started to gain popularity. Its practitioners such as Daniel Kahneman,…
How the GDP framework creates the illusion that the Fed can generate economic growth
By Dr Frank Shostak Most experts tend to assess the strength of an economy in terms of real gross domestic product (GDP). The GDP…
The Fed and low interest rate policy
By Dr Frank Shostak It is a commonly accepted view these days that the central bank is a key factor in the determination of…
Where is the US dollar heading against the Euro?
By Dr Frank Shostak The price of the Euro in terms of the US$ closed at 1.135 in November against 1.156 in October and…
The myth that money pumping can help economic growth
By Dr Frank Shostak By popular thinking, the role of the central bank is to navigate the economy along the so-called path of economic…
The Divisia monetary indicator and the money supply definition
By Dr Frank Shostak By most commentators, since the early 1980s, correlations between various definitions of money and national income have broken down. The…