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The long run: growth and uncertainty

Beyond the business cycle: the limits of capital accumulation, dynamic programming that turns saving into a choice, and how uncertainty freezes an economy.

1. A Country Cannot Grow on Machines Alone — 8. Growth: Solow and Beyond
2. Where the Saving Rate Comes From — 8. Growth: Solow and Beyond
3. Expected Utility vs Expected Profit — 9. Risk and Uncertainty
4. When Uncertainty Becomes the Recession — 9. Risk and Uncertainty
5. A Price Is a Ratio; the Price Level Is a Level — 4. Money and Prices
6. The Exchange Rate Closes the Loop — 7. The Open Economy and Trade