1. Heat a stockpot over medium high heat, add oil and let it heat until shimmering. Add stew meat and brown all sides well.
2. Add beef stock and allspice. Turn down heat and simmer for 45 minutes.
3. Chop potatoes and carrots into cubes and add to the stock.
4. Remove a ladle full of stock and mix it well with the cornstarch. Add back to pot, cover and let simmer for 45 minutes stirring occasionally to thicken the stew. If stew gets too thick add up to 1/4 cup more stock or water to thin. Add salt and pepper to season just before serving.