Frank Shostak

Frank Shostak is an Associated Scholar of the Mises Institute. His consulting firm, Applied Austrian School Economics, provides in-depth assessments and reports of financial markets and global economies. He received his bachelor’s degree from Hebrew University, his master’s degree from Witwatersrand University, and his PhD from Rands Afrikaanse University and has taught at the University of Pretoria and the Graduate Business School at Witwatersrand University. Frank’s publishes frequent posts on economics and the markets on his Substack page.

Articles

Does Correlation Mean Causation?
Mises Wire Frank Shostak
Most economists use correlations among the various pieces of unique historical data to empirically estimate the future direction of an economy. For instance, it was observed that the lagged changes in...
View all Frank Shostak articles

Media

Wealth Generation and the Market Economy
Frank Shostak

A free market economy does not generate jobs or money. Instead, it creates wealth through exchange and production. Government intervention, contrary to what mainstream economists believe, does not enhance wealth, but instead destroys it.

Should Central Banks Accommodate Increases in Demand for Money?
Frank Shostak

One of the fallacies pushed by monetary economists is that a growing economy needs a growing supply of money in order to prevent deflation, which they claim is as harmful as inflation. However, as Austrians point out, there is no “optimum” amount of money in the economy, since prices adjust.

Subjective Valuation Versus Arbitrary Valuation
Frank Shostak

One important difference between the Austrian and other schools of thought is the emphasis Austrians place upon purposeful human behavior. Consumption by individuals is not random, but rather purposeful action driven by subjective individual preferences.

View all Frank Shostak media