Growth Theory and After
I have been told that everybody has dreams, but that some people habitually forget them even before they wake up. That seems to be what happens to me. So I do not know if I have ever dreamt about giving this Lecture. I know that I have been in this room before, but that was in real life, and I was awake. If I have given this lecture in my dreams, there is no doubt that the topic was the theory of economic growth. I am told that the subject of the lecture should be "on or associated with the work for which the Prize was awarded." That is pretty unambiguous. But I would not even wish to use the leeway offered by the phrase "associated with." Growth theory is exactly what I want to talk about: for itself, for its achievements, for the gaps that remain to be filled, and also as a vehicle for some thoughts about the nature of theoretical research in macroeconomics, and empirical research as well.
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