Will we experience a repeat of history?

Will we see a repeat of history? 

Will the world experience another, perhaps even greater depression?

Newly-elected, President Herbert Hoover came to office just before and "pursued a variety of policies in an attempt to lift the economy" during the initial part of the depression. Because he headed the federal government, he had many tools at his disposal, as did President Obama during the later Great Recession. Hoover, however, was a former businessman and politician and a conservative. The Great Depression became the central problem of the Hoover administration, but he was one who "opposed directly involving the federal government in relief efforts."

Sound familiar?

This 'minimal-government-involvement' mindset goes against many of the major economic thinkers and the financial processes put in place after the Great Depression to prevent - well, they hoped it would prevent - a proliferation of the conditions that gave rise to the greed and myopia that caused the Great Depression, and subsequently the Great Recession.

That mindset, however, fits very well with the elimination of the administrative order...