A discussion of an extended class of higher-derivative classical theor
ies of gravity is presented. A procedure is given for exhibiting the n
ew propagating degrees of freedom, at the full nonlinear level, by tra
nsforming the higher-derivative action to a canonical second-order for
m. For general fourth-order theories, described by actions which are g
eneral functions of the scalar curvature, the Ricci tensor and the ful
l Riemann tensor, it is shown that the higher-derivative theories may
have multiple stable vacua. The vacua are shown to be, in general, non
trivial, corresponding to de Sitter or anti-de Sitter solutions of the
original theory. It is also shown that around any vacuum the elementa
ry excitations remain the massless graviton, a massive scalar field, a
nd a massive ghostlike spin-two field. The analysis is extended to act
ions which are arbitrary functions of terms of the form del(2k)R, and
it is shown that such theories also have a nontrivial vacuum structure
.