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• Case | HBS Case Collection | February 2016 (Revised December 2017)

  In the Name of Democracy? The Rise and Decline of India's Congress Party

  Akshay Mangla and Jonathan Schlefer

  In 1950 it looked highly doubtful that Indian democracy would hold—typical family income was $6 a month, only about 15% of the population was literate, there were deep religious and ethnic differences, and more than a dozen national languages were spoken. But after a half a century, India had proved to be the first democracy anywhere near so poor to survive. Why? As well, in 1950 India's economic prospects looked bright for a developing country—it had a well-trained government bureaucracy bequeathed by the British, a secure legal system, national railroads, and more advanced industry than, for example, China. Why did the economy do so poorly?

  Keywords: india; Congress Party; economic development; democratization; economic reform; Economic Systems; Government and Politics; Developing Countries and Economies; India;

  Citation:

  Mangla, Akshay, and Jonathan Schlefer. "In the Name of Democracy? The Rise and Decline of India's Congress Party." Harvard Business School Case 716-068, February 2016. (Revised December 2017.)  View Details

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• Case | HBS Case Collection | January 2009 (Revised December 2017)

  Who Broke the Bank of England?

  Niall Ferguson and Jonathan Schlefer

  In the summer of 1992, hedge fund manager George Soros was contemplating the possibility that the European Exchange Rate Mechanism (ERM) would break down. Designed to pave the way for a full-scale European Monetary Union, the ERM was a system of fixed exchange rates linking together twelve members of the European Union, including Britain, France, Germany, and Italy. However, the impact of German reunification after 1989 had created significant strains within the system. Moreover, financial deregulation and the growth of cross-border flows of “hot" money increased the likelihood that a speculative attack on one or more ERM currencies might succeed. Soros had to decide which currencies to bet against. The Italian lira? The British pound? The French franc? Or all three? The result could determine the success or failure of the project for a single European currency.

  Keywords: Decision Choices and Conditions; Currency Exchange Rate; Investment; Governing Rules, Regulations, and Reforms; Financial Services Industry; European Union;

  Citation:

  Ferguson, Niall, and Jonathan Schlefer. "Who Broke the Bank of England?" Harvard Business School Case 709-026, January 2009. (Revised December 2017.)  View Details

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• Background Note | HBS Case Collection | January 2010 (Revised November 2017)

  GUIDES: Insight through Indicators

  Matthew Weinzierl, Jonathan Schlefer and Ann Cullen

  GUIDES is an easily remembered framework that can help the business leader and student to confidently and quickly identify, organize, and interpret a country's key economic indicators. Alternatively, it can help them to evaluate third-party analyses and to compare such analyses across countries. In either case, this framework provides a structured way to complete and communicate analysis of a country's economic data.

  Keywords: Economy; Macroeconomics; Framework; Country; Analysis; Performance Evaluation;

  Citation:

  Weinzierl, Matthew, Jonathan Schlefer, and Ann Cullen. "GUIDES: Insight through Indicators." Harvard Business School Background Note 710-044, January 2010. (Revised November 2017.)  View Details

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