Following an A case that presents the dominant narrative around the causes and remedies for the Great Depression, this B case provides correspondence between outgoing president Herbert Hoover and president-elect Franklin D. Roosevelt. In 1933, economic conditions turned suddenly worse, and opinion was divided on the question of whether demand shocks or supply shocks had caused the Great Depression—each would dictate different policy actions. What was the appropriate diagnosis? What should be the remedies?
This case set was taught successfully in in-person and online Darden classes.