Where does the BETA parameter come from?

Hi all, I have been working through Steve's Minsky "Financial Instability Hypothesis" model from macroeconomic definitions and have found myself confused. If you look at slide 40 from Week 4, this β parameter replaces the v (capital to output ratio) parameter in the below equation. I am assuming this is done because β must represent the population growth rate, but it was already previously established that the population growth rate (N^) is equal to v, so what is the need? Additionally in the Minsky models of this model, v and β are different parameters. What is the relationship between the population growth rate and the capital to output ratio? And when and why can they be interchanged? I have a feeling I am missing something incredibly obvious lol. Thanks for taking the time to read this message and for any thoughts you may have. Best wishes, Rory

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Where does the BETA parameter come from?