Horizontalists and Verticalists: The Macroeconomics of Credit Money

This anniversary edition of Basil Moore’s classic work features the original text along with an extensive new introduction and foreword. Providing much of the theoretical foundation on which post-Keynesian endogenous money and Modern Monetary Theory were subsequently developed, this seminal work continues to challenge the validity of much of mainstream monetary macroeconomics.

Basil Moore argues that the money supply in modern economies is not under the control of central banks, but is deter...