Business Case Studies & Business Publications

Mr. Hamilton Goes to Annapolis: Resolvin...

Miller, Scott;Klop...

Case

Mr. Hamilton Goes to Annapolis: Resolving the Depression of the 1780s

Miller, Scott; Klopfenstein, Amy

F-2158 | Published August 11, 2026 | 17 Pages Case

Collection: Darden School of Business

Product Details

During its colonial rule, the British government deliberately implemented policies that made the early American economy dependent on it and prevented the colonies from developing a robust, interconnected economic system. After the Revolutionary War, Britain withdrew these favorable monetary and trade policies, causing a series of economic and monetary crises within the United States. The resulting depression increased competition between the states and spurred social unrest. Meanwhile, the constitution at the time—known as the Articles of Confederation—delegated control of major economic policies such as trade and taxation to the states, preventing the federal government from developing a unified national solution to the depression. In 1786, several prominent early American leaders—including Alexander Hamilton—gathered in Annapolis, Maryland, to discuss potential solutions to the depression. This public-sourced case explores the colonial and early US economy and analyzes social, political, and financial factors that caused the depression, asking students to put themselves in Hamilton’s position and determine which solution he should propose at the Annapolis Conference. It highlights ways in which political institutions, international forces, and social dynamics can shape a country’s economy; it promotes discussion of how different groups respond to an economic crisis; and it can support a discussion of how to mobilize ideologically opposed groups toward a common cause. The case is intended for MBA and executive education courses that teach strategy, leadership, and management. Although the case takes place hundreds of years ago, the issues that Hamilton and his contemporaries face are similar to challenges that students will likely encounter throughout their careers. At the University of Virginia Darden School of Business, this case is taught in “Alexander Hamilton: Lessons in Management, Strategy, and Leadership,” an executive education course that derives business lessons from Hamilton’s life and career. It would also be suitable for undergraduate programs on American history and economic history, as well as specialized programs on business history, international relations, and global business.

To investigate the role of political institutions in economic development; to interrogate the US depression of the 1780s; to understand “debt-deflation cycles” and other dynamics of economic crisis; to examine the civic reactions and regime shifts spurred by the depression of the 1780s; and to explain creditor/debtor connections with inflation/deflation dynamics.