Publications
Publications
- December 1983 (Revised March 1999)
- HBS Case Collection
The United States Financial Crisis of 1931
Abstract
The behavior of the Federal Reserve System during the early years of the Great Depression has been a topic of considerable controversy. The Fed, it has been argued, pursued a contracting policy, thereby helping to turn what might have been only a brief recession into an economic catastrophe. This case explores the reasons behind the Fed's behavior, showing students how existing institutional values may be inappropriate to novel situations.
Keywords
Citation
Rukstad, Michael G. "The United States Financial Crisis of 1931." Harvard Business School Case 384-115, December 1983. (Revised March 1999.)