This chapter views the debate between horizontalism and structuralism through the lens of the ‘history versus equilibrium’ distinction in post-Keynesian macrodynamics. The argument is that that there can be, and to an extent already is, agreement that the horizontal credit-supply curve is not a special case, and that the existence of an indeterminate dynamic credit-supply schedule provides a general framework capable of accommodating both horizontalist and structuralist arguments. These claims rest on the distinction between logical and historical time and, in particular, the claim that any construct (including, for example, a credit-supply schedule) that is akin to a determinate long-run equilibrium relationship is anathema to the methodological foundations of post-Keynesian economics.
Monograph Chapter
In Advances in Endogenous Money Analysis
Edited by Louis-Philippe Rochon and Sergio Rossi
- Published in print:
- 27 Oct 2017
Collection:
Economics 2017
Handbook Chapter
In Handbook of Alternative Theories of Economic Growth
Edited by Mark Setterfield
- Published in print:
- 31 Mar 2010
Collection:
Economics 2010 and before
Mark Setterfield
Handbook Chapter
In Handbook of Alternative Theories of Economic Growth
Edited by Mark Setterfield
- Published in print:
- 31 Mar 2010
Collection:
Economics 2010 and before
Edited by Mark Setterfield
Comprising specially commissioned essays, the Handbook provides a comprehensive overview of alternative theories of economic growth. It surveys major sub-fields (including classical, Kaleckian, evolutionary, and Kaldorian growth theories) and highlights cutting-edge issues such as the relationship between finance and growth, the interplay of trend and cycle, and the role of aggregate demand in the long run.
Monograph Chapter
In Complexity, Endogenous Money and Macroeconomic Theory
Edited by Mark Setterfield
- Published in print:
- 27 Sep 2006
Collection:
Economics 2010 and before
Monograph Chapter
In Complexity, Endogenous Money and Macroeconomic Theory
Edited by Mark Setterfield
- Published in print:
- 27 Sep 2006
Collection:
Economics 2010 and before
Mark Setterfield
Monograph Chapter
In Complexity, Endogenous Money and Macroeconomic Theory
Edited by Mark Setterfield
- Published in print:
- 27 Sep 2006
Collection:
Economics 2010 and before
Monograph Chapter
In Complexity, Endogenous Money and Macroeconomic Theory
Edited by Mark Setterfield
- Published in print:
- 27 Sep 2006
Collection:
Economics 2010 and before
Monograph Chapter
In Complexity, Endogenous Money and Macroeconomic Theory
Edited by Mark Setterfield
- Published in print:
- 27 Sep 2006
Collection:
Economics 2010 and before
Complexity, Endogenous Money and Macroeconomic Theory
Essays in Honour of Basil J. Moore
Edited by Mark Setterfield
During a distinguished career, Basil Moore has made numerous important contributions to macroeconomics and monetary economics, and is renowned as the progenitor of the ‘horizontalist’ analysis of endogenous money. More recently, he has embraced complexity theory as part of an ongoing effort to understand macroeconomics as an evolving, path-dependent process. This book celebrates and explores Basil Moore’s interests in and contributions to monetary and macroeconomic theory.