Abstract

This paper is mainly concerned with Sweden’s post-war economic problems. The business-cycle experiences during the inter-war period,1 have not yet reasserted themselves as serious problems. The new problems — although of course not completely new © refer mostly to rapid changes of inflationary pressure in a fully employed economy. Under these conditions the relatively large changes in absolute prices, price relations, wages and income distribution, become more central issues of the business-cycle problem than previously. I shall study these post-war experiences, summarized in section II, mainly from the point of view of the current issues of economic policy. My reason for this is that the difficulties of explaining the business cycle changes — taken in this wide sense — are brought out more clearly when looked upon from this angle.

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