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Frank Shostak

Tags Booms and BustsFinancial MarketsMoney and BanksBusiness CyclesCapital and Interest TheoryMoney and Banking

Works Published inQuarterly Journal of Austrian EconomicsAustrian Economics NewsletterMises Daily Article

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, master's degree from Witwatersrand University and PhD from Rands Afrikaanse University, and has taught at the University of Pretoria and the Graduate Business School at Witwatersrand University.

All Works

The Balance-of-Payments Myth

Protectionism and Free Trade

Blog05/20/2019

It is not "the US" that imports Japanese or Chinese electrical appliances, but an individual from the US, or a group of Americans. They import these appliances because they believe that a profit can be made. And governments ought not interfere in these transactions.

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The Subsistence Fund Is the Heart of Economic Growth

Money and BanksMoney and Banking

Blog05/11/2019

The "subsistence fund" — created by real savings — is the foundation of true economic growth. But it can be eroded and destroyed by creating money "out of thin air."

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Economic Models vs. The Real World

Money and BanksMoney and BankingPhilosophy and Methodology

Blog05/04/2019

Economic theory must have only one purpose — to explain economic activity. However, statistical methods are of no help in this regard.

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Can Central Banks Avoid Booms and Busts with the "Right" Amount of Money Creation?

Money and BanksMoney and Banking

Blog04/27/2019

Central banks contend they can avoid booms and busts by increasing the money supply the "correct" amount. They are bound to fail.

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How Human Action and Human Values Determine Prices

SubjectivismValue and Exchange

Blog04/20/2019

Prices are set by how much people value goods and services. And people value things based on what they think will improve their life and well-being. 

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