This outstanding collection of William Brock's essays illustrates the power of dynamic modelling to shed light on the forces for stability and instability in economic systems. The articles selected reflect his best work and are indicative both of the type of policy problem that he finds...

\tThe assumption that production in an economic system may be described by an aggregate neoclassical production function is at the foundation of most modern equilibrium neoclassical business cycles and growth models. Its validity requires stringent assumptions on individual production functions...