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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, 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

Debt Isn't a Problem — Easy-Money Policies Are the Problem

Money and BanksMoney and Banking

Debt can be a big factor in economic busts. But, the problem isn't debt. The problem is the easy-money policies behind the debt.

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"Real Wealth" vs. the Boom-Bust Cycle

Money and BanksMoney and Banking

In a boom-bust economy, there is real wealth, and there is bubble wealth. Economic busts are a "cleansing mechanism" that clears out the bubble wealth.

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Tightening the Money Supply will Inevitably Lead to a Bust

The FedMoney and BanksMoney and Banking

Economic busts are the inevitable removal of various activities that result from easy-money policy. Busts are unavoidable without endless "stimulus."

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Should Cash be Abolished?

Money and BanksMonetary TheoryMoney and Banking

The usefulness of money depends on it having some connection to physical money. Reducing money to a digitized abstraction would be a disaster.

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Can Technology Prevent a Recession?

Booms and BustsMoney and BanksBusiness CyclesMoney and Banking

Technology doesn't tell us much about whether we're prone to a recession. The much larger issue is inflation-induced misallocation of resources.

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