This book aims to start a debate on the relationship between economic theory - and more precisely business cycle theory - and economic policy, emphasising the diversity of views on economic policy which characterised older periods, in contrast to the homogeneity of the analysis and diagnosis provided by current business cycles developments.

Since the 1970s, economic theorists excluding any economic policy interventions and favouring strictly supply-side economic policies have gained a growing influence. The development of Equilibrium Business Cycles theories coincides with...