25th anniversary of Horizontalists and Verticalists at ROKE
The new issue of ROKE is out. You can get it here. There is a special mini-symposium on Basil Moore's classic book. From the abstract of one of the papers from the symposium:
In 1988 Basil Moore published his book Horizontalists and Verticalists: The Macroeconomics of Credit Money, which this year celebrates its 25th birthday. We discuss this book from today's perspective, and in particular whether Moore's main assertions have been validated or rejected by the development of central bank practice and academic monetary economics. We find that the book has impressively stood the test of time and, despite part of textbook economics still insisting on the money multiplier as an explanation for the money supply, it is not much of an exaggeration to say that we have all become ‘Horizontalists’ in the last 25 years.