Dredge the beef chunks in flour, salt, and pepper. Shake off any excess.
In a large Dutch oven, heat two tbsp olive oil and brown the beef chunks. Do it in batches as not to over-crowd the meat, or it will stew. We want it brown. Transfer to a plate and set aside.
To the same Duthc oven, add two cups of red wine, scraping the bottom to pick up all the stuck bits and pieces of beef. Bring to a boil, add the mushrooms, and simmer for 10 mins. Preheat the oven to 325 F.
While the mushrooms are simmering, in a large skillet over medium-high heat, saute the sliced carrots, onions, and minced garlic in ½ tbs of olive oil until the onion is translucent.
Add the tomato paste, cook for one more minute and add this mixture to the mushrooms and wine.
Return the brown beef chunks to the Dutch oven, and add the herbs, beef broth, diced potatoes, salt, and pepper. Bake the stew (with the lid on) for 1 hour and 45 mins.