pt. 1. The background -- 1. Dynamics in the medium run -- 2. Financial instability -- 3. Macroeconomics, uncertainty and the fallacies of composition -- 4. Heterogeneity and the status of macroeconomics -- pt. 2. The markets -- 5. The nature of the labor market -- 6. The role of imperfect competition -- 7. Policies versus self-adjustment -- pt. 3. Endogenous dynamics -- 8. A dynamic macro model -- 9. Uncertainty, expectations and learning -- 10. Inflation, deflation and the Phillips curve -- pt. 4. Growth cycles, income share and the financial instability hypothesis -- 11. A growth cycle model -- 12. The role of labor share -- 13. Towards a stochastic switching -- pt. 5. Concluding remarks -- 14. Lessons -- 15. The task ahead.