On September 18, 2024 the Federal Reserve (“Fed”) lowered its policy interest rate target by 0.5 percent to 5 percent. Most commentators, including the Fed chairman Jerome Powell, hold that the...
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.
Latest work
Individuals are often presented as if a value scale is hard-wired in their heads. Allegedly, this value scale remains the same all the time. As a result, this value scale supposedly instructs...
Why are individuals willing to pay higher prices for some goods relative to other goods? The common reply to this appeals to the laws of supply and demand. But what is behind these laws? To provide a...
