Background
Moore, Basil John was born on June 6, 1933 in Toronto, Ontario, Can. Came to the United States, 1958, naturalized 1959. Son of Philip John and Beryl Alicia (Christian) Moore.
( Shaking the Invisible Hand makes the case that economie...)
Shaking the Invisible Hand makes the case that economies are complex systems and in response to this, develops a unique dynamic nonequilibrium process analysis of macroeconomics. It provides a brief introduction to complex systems, chaos theory and unit roots. The importance and implications of contingency for economic behaviour are developed. Moore develops a new tool of 'Process Analysis' to replace equilibrium analysis in order to analyze macroeconomic phenomena in historical time.
http://www.amazon.com/gp/product/1403999465/?tag=2022091-20
(Challenging the validity of much of mainstream monetary m...)
Challenging 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 not under the control of central banks, but is determined by borrower demand for bank credit. Horizontalists and verticalists then explores the implications of this perception for conventional macroeconomic theory. In his analysis, Moore distinguishes sharply between commodity, fiat, and credit money. he argues that much of mainstream macroeconomic theory is appropriate to a world of commodity or fiat money, but not to contemporary credit money economies. mainstream analysis takes the view that central banks have it in their power to initiate exogenous changes in the nominal supply of money. This 'Verticalist' view maintains that monetary change originates in changes in the high-powered base, which allegedly are under the control of the central bank. The author, in contrast, contends that the supply of credit money is endogenous and responds to changes in the demand for bank credit. Central bank open-market operations affect how required reserves are supplied between borrowed and nonborrowed reserves, rather than the total volume of reserves that is endogenously determined. This 'Horizontalist' view holds that central banks have the ability to set exogenously the supply price of the money market, but not the quantity of credit money. It follows that all models that treat the supply of credit as exogenous are fundamentally misspecified. Conventional views about the forces determining the money supply, national income, interest rates, exchange rates, inflation, and the role of saving are fundamentally in error. Moore concludes that a new macroeconomic paradigm must be developed and attempts to initiate the larger task of theory reconstruction that lies ahead.
http://www.amazon.com/gp/product/0521350794/?tag=2022091-20
consultant economics professor
Moore, Basil John was born on June 6, 1933 in Toronto, Ontario, Can. Came to the United States, 1958, naturalized 1959. Son of Philip John and Beryl Alicia (Christian) Moore.
Bachelor with honors, University Toronto, 1955. Doctor of Philosophy with Distinction, Johns Hopkins University, 1958.
Assistant professor Wesleyan University, Middletown, Connecticut, 1958-1964, associate professor, 1964-1970, full professor, 1970—2003. Professor extraordinary economics Stellendosch University, South Africa, since 2003. Senior visitor Cambridge University, England, 1970-1971.
Visiting scholar Bank of England, London, 1978-1979, KDI, Seoul, Korea, 1988-1989, NUS Grad. Medical School, Singapore, 1990-1991.
(Challenging the validity of much of mainstream monetary m...)
( Shaking the Invisible Hand makes the case that economie...)
Member American Economics Association, Canada Economics Association, Royal Economics Association.
Married Karin Schoeller, December 28, 1960 (divorced 1973). Children– Robin, Martin. Married 2nd Subithra Moodley, May 15, 1981.
Children: Tara, Sasha.