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Frank Shostak

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

Works Published inMises Daily ArticleQuarterly Journal of Austrian EconomicsAustrian Economics Newsletter

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.

All Works

How Government Spending Destroys Wealth

Taxes and SpendingInterventionism

Blog03/02/2020

Government spending overall—not just deficits—is the real problem. Government spending diverts wealth away from truly productive people and toward the government and its favored groups.

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How Fractional Reserve Lending Makes Money Disappear

Blog02/24/2020

Because banks make unbacked "loans," they create new money that later disappears when repaid. If these loans are not renewed, economic depression sets in.

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Some Problems with Worker Productivity Stats

Philosophy and MethodologyPrices

Blog02/18/2020

Government statistics on worker productivity combine many errors of aggregation such as "average prices" and the total purchasing power of money. So it's unlikely that productivity numbers tell us much that's useful.

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Government "Fixes" for the Trade Balance Are Worse Than Any Trade Deficit

Protectionism and Free TradeValue and Exchange

Blog02/14/2020

The national trade account balance is of little economic significance and is a sterile concept. But the government’s attempts to "fix" it can have many harmful effects.

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Humans Have Goals. And They Value Goods and Services Accordingly.

PraxeologySubjectivismValue and Exchange

Blog02/10/2020

A given goal dictates the specific means that an individual will choose for the attainment of that end. People make choices that they think will help them achieve an end.

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