1930-1933: The Great Depression and the End of "Orthodoxy" (B)
Supplement to case UV7888 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?