Economic crisis theory is topic of interest that has been extensively discussed among economists in recent times, and many theories have been launched in order to explain economic crises. This chapter will look at what Aschehoug has to say about them and their origins (for example, chapter 94, ‘Changing good and bad times; the history of economic crises’, and chapter 95, ‘The theory of crises’). Aschehoug had, in 1898, published an article in Statsøkonomisk Tidsskrift called ‘De økonomiske kriser og depressioner i det 19de aarhundrede’, containing much of the same theory and history that is later used in Socialøkonomik, which was written almost ten years later. The historical parts are updated to include the crises at the beginning of the twentieth century, and his proposed measures and explanations are developed further.

Crises: Necessary to Analyse

The theory of crises was also the focus of another Norwegian economist and jurist, Einarsen, in the article ‘Gode og daarlige Tider’ (Good and bad times) in Statsøkonomisk Tidsskrift in 1904. Together with Aschehoug, this comprises the turn-of-the-century Norwegian literature on the subject. This article included the same theories that Aschehoug later included in Socialøkonomik.

The theory of crises is discussed in Part X of Socialøkonomik, ‘The uneven development of economic activities and results and measures against it’. This part also contains chapters about the distribution of economic wealth, the labour unions and ‘social questions’.