Teoria horizontalista da moeda e do crédito: crítica da crítica

Luiz Fernando Rodrigues de Paula About the author

This paper aims to develop a critical appraisal, from a Post Keynesian approach, of the paper "The horizontalist theory of money and credit", authored by Saad-Filho and Lapavitsas. For this purpose, the paper shows that although these authors highlight some important features of the monetary and credit dynamic of capitalist economies, some of their criticism on the Post Keynesian monetary theory are misleading as they are based on an incomplete understanding of this theory. Furthermore, Saad-Filho and Lapavitsas' analysis is sometimes ambiguous, so that they are not able to define effectively an alternative approach to the neoclassical theory on money and credit.

post Keynesian theory; horizontalism; money supply; credit


Departamento de Economia, Faculdade de Economia, Administração e Contabilidade da Universidade de São Paulo (FEA-USP) Av. Prof. Luciano Gualberto, 908. FEA II - térreo- Cid. Universitária, CEP: 05508-010 São Paulo/SP, Tel.: (55 11) 3091-5802/3091-5947 - São Paulo - SP - Brazil
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