Season the beef with salt and pepper in a large bowl. Sprinkle the flour on top and toss well to combine.
Heat the olive oil in a large Dutch oven or pot over medium heat. Brown the beef on all sides, stirring occasionally, about 5-7 minutes
Add the onions and garlic, and saute until lightly browned and fragrant, about 2-3 minutes.
Add the tomato paste and continue to cook with the onions and garlic, about 1-2 more minutes.
Add the potatoes, carrots, celery, thyme and basil along with the broth and stir to combine, scraping any brown bits in the pot.
Reduce heat to low, cover and simmer until the beef is tender, 60-90 minutes.
Remove the bay leaves, season with fresh parsley and serve warm.