Why Economic Policies Change Course: Eleven Case Studies

"Why governments change policies" would have been an alternate title. The cases concern changes in macroeconomic policies in Japan, Canada, the United States and eight European countries between 1975 and 1985. The well-written analyses-surprisingly detailed, considering their brevity-cover a variety of situations that became "unsustainable" for economic or political reasons. The authors are cautious about generalizing but write that exchange rates and balances of payments often provided the triggers for action.