Throughout his career Fisher Black has described a view of business fluctuations based on the idea that a well-developed economy will be continually in equilibrium. In the essays that constitute this book he explores this idea thoroughly and reaches some surprising conclusions.

Provocative and clearly written, Business Cycles and Equilibrium will be of value to students of macroeconomics as well as those of finance and the international economy.

Ken Black is currently professor of decision sciences in the School of Business at the University of Houston-Clear Lake. born in Cambridge, Massachusetts, and raised in Missouri, he earned a bachelor's degree in mathematics from Graceland University, a master's degree in math education from the University of Texas at El Paso, a Ph.D. in business administration in management science, and a Ph.D. in educational research from the University of North Texas.
Since joining the faculty of UHCL in 1979, Professor Black has taught all levels of statistics courses, forecasting, management science, market research, and production/operations management. In 2005, he was awarded the President's Distinguished teaching Award for the university. He has published over 20 journal articles and 20 professional papers, as well as two textbooks: Business Statistics: An Introductory Course and Business Statistics for contemporary Decision Making. black has consulted for many different companies, including Aetna, the city of Houston, NYLCare, AT&T, Johnson Space center, Southwest Information Resources, Connect Corporation, and Eagle Engineering.