In a large bowl, toss the cubed beef with flour, salt, and black pepper until evenly coated.

Heat 1 tablespoon of olive oil in a large Dutch oven or heavy-bottomed pot over medium-high heat. Sear the beef in batches, browning all sides, about 3-4 minutes per batch. Do not overcrowd the pot. Remove seared beef to a plate and set aside.

Reduce heat to medium. Add the remaining 1 tablespoon of olive oil to the pot. Add the chopped onions and cook, stirring occasionally, until softened and translucent, about 8-10 minutes.

Add the minced garlic, sweet paprika, hot paprika (if using), crushed caraway seeds, and dried marjoram. Cook for 1-2 minutes, stirring constantly, until fragrant. Be careful not to burn the paprika.

Stir in the tomato paste, red bell pepper, and carrot. Cook for another 5 minutes, stirring occasionally, to soften the vegetables slightly.

Return the seared beef to the pot. Pour in the crushed tomatoes and beef broth. Add the bay leaf. Bring the mixture to a gentle simmer, scraping any browned bits from the bottom of the pot.

Once simmering, reduce the heat to low, cover the pot, and cook for at least 2.5 to 3 hours, or until the beef is fork-tender. Stir occasionally to prevent sticking.

Remove the bay leaf. Taste and adjust seasoning with salt and pepper if needed.

Serve hot, garnished with a dollop of sour cream or Greek yogurt and fresh chopped parsley, if desired. This goulash is excellent with crusty bread, egg noodles, or boiled potatoes.