All the time we hear about the Great Depression, how the government responded, and how badly we want to avoid that situation again. But the federal government is heading down the same path today, with respect to its attempts at stimulus.
Why don't we ever hear about the 1921 recession? Maybe because it never turned into a Depression, due in large part to President Harding's hands-off approach to letting the economy recover. Does our government pay attention to history?
http://en.wikipedia.org/wiki/1921_recession