Major Recessions in Sweden 1850-2000: from pre-capitalist to modern types of crises

摘要

This article uses historical national accounts to compare major recessions in Sweden from 1850 to 2000. A major recession is defined as an event when the Gross Domestic Product (GDP) in one year is below the level two years earlier. The sharpest declines in GDP coincided with the World Wars, crop failures and contractionary economic policies. One important distinction to be made is between pre-capitalist and modern types of crises. While the former were crises of underproduction, brought about by declines in agriculture and consumption, the latter were overproduction crises usually generated by declines in investment and industrial production. The article shows that in Sweden the transition from the one type to the other was a prolonged process.View full textDownload full textKeywordscrisis, recession, GDP, capitalismRelated var addthis_config = { ui_cobrand: "Taylor & Francis Online", services_compact: "citeulike,netvibes,twitter,technorati,delicious,linkedin,facebook,stumbleupon,digg,google,more", pubid: "ra-4dff56cd6bb1830b" }; Add to shortlist Link Permalink http://dx.doi.org/10.1080/03468755.2010.524746