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The economics of Basil Moore: slow progress toward horizontalism

Author

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  • Louis-Philippe Rochon

    (Full Professor, Laurentian University, Sudbury, ON, Canada)

Abstract

While Basil Moore is well known for his view on endogenous money, very little is known about how he got there, and how his views might have evolved through time. This paper examines Moore's early views, pre-Horizontalists and Verticalists, and explains how Moore's views are rooted in a traditional Keynesian Tobin approach. But Moore's sabbatical at the University of Cambridge in 1970, when he met Paul Davidson and Joan Robinson, changed all that. Yet it would take him a full decade to fully embrace endogenous money.

Suggested Citation

  • Louis-Philippe Rochon, 2020. "The economics of Basil Moore: slow progress toward horizontalism," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 17(3), pages 313-324, November.
    • Handle: RePEc:elg:ejeepi:v:17:y:2020:i:3:p313-324
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    More about this item

    Keywords

    Basil Moore; Tobin; endogenous money;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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