Evaluate the following statements as true/false/uncertain and explain your answer carefully. Each answer should be approximately one page long. Please use diagrams and/or algebra when answering the question, where appropriate.

According to the Solow-Swan model, the only way to get sustained growth, in the long run, is through technological progress, not through capital accumulation. If we believe this theory, then, savings behaviour is irrelevant to human welfare, and people should simply consume all their income.