Heat the oil. Heat the olive oil in a large pot over medium-high heat.
Coat the beef. Place the beef cubes in a bowl or bag and toss with the flour until evenly coated.
Brown the beef. Add the beef to the hot oil and cook for about 5 minutes, until the edges are browned. The beef will still be raw inside.
Add vegetables. Stir in the carrots, celery, onion, and potatoes and cook for another 5 minutes.
Add paste and seasonings. Stir in the tomato paste, salt, black pepper, and Italian seasoning until well combined.
Add broth and simmer. Slowly pour in the beef broth and bring to a boil. Cover, reduce heat to low, and simmer for 1 to 1 ½ hours, until the potatoes are fork-tender and the vegetables are soft but not mushy.
Serve. Serve hot with salad and bread rolls.
Notes
Potato choice. Yellow or russet potatoes both work. Yellow potatoes are less likely to become grainy if slightly overcooked.
Onion option. Pearl onions can be used instead of quartered onion for a different texture and flavor.
Carrots. Baby carrots or sliced whole carrots cook at similar rates in this stew.
Thickening. Tomato paste adds flavor and helps thicken the stew. Diced tomatoes, stewed tomatoes, or up to 1 cup spaghetti sauce can be used as substitutes.
Storage. Store leftovers in an airtight container in the refrigerator for 3 to 5 days and reheat before serving.