  Some recent results concerning nonlinear optics in semiconductor
microcavities are reviewed from the point of view of the many-body physics of
an interacting photon gas. Analogies with systems of cold atoms at thermal
equilibrium are drawn, and the peculiar behaviours due to the non-equilibrium
regime pointed out. The richness of the predicted behaviours shows the
potentialities of optical systems for the study of the physics of quantum
fluids.
