Throughout history, we see multiple occasions of a similar nature; almost as if the events of the past were recurring in the future. Karl Heinrich Marx, German philosopher, economist and socialist, once said: “history repeats itself, first as tragedy, then as farce”. Now there may be instances in time where this seems true, Marx generally chooses future occurrences to be superficially comical or fake. In this sense, Marx's theory seems ambiguous when comparing two historical episodes in which interventionist policies transformed business cycle corrections into depressions. The first episode occurred during the Great Depression during the Hoover administration. Herbert Hoover, the 31st president of the United States of America, took office less than eight months before the infamous Wall Street (stock market) crash of 1929, which sent the economy into what we know as the Great Depression. Hoover attempted to stem the economic failure with volunteer efforts, public works projects, and more; none of which provided economic relief during the time. The second episode is the rather current economic crisis, which began during the administration of George W. Bush and continued during the administration of Barack Obama. George W. Bust, the 41st president of the United States of America, faced problems during his second term as America entered the longest post-World War II recession. Bush has enacted numerous economic programs to preserve our nation's financial systems. In this context, Presidents Herbert Hoover and George W. Bush were forced to fight a negative economy. It is certain that the presidencies of the 31st president of the United States, Herbert Hoover, and the 41st president, George W. Bush, are... middle of the paper... in turn follows the conservative logic employed by Herbert Hoover.Works CitedBureau of Economic Analysis. “National Economic Accounts: 'Percent Change from Previous Period File.'” October 13, 2008. .Hoover, Herbert. 2000. “Inaugural Speech.” In James M. McPherson, ed., To the Best of My Ability: America's Presidents. New York: DK Publishing Incorporated. Index by estimated number, for the continental United States: 1926-1942. The Statistical Abstract of the United States, 1942. .Lebergott, Stanley. 1964. Labor in Economic Growth: The American Record Since 1800. New York: McGraw-Hill Book Company. Saez, Emmanuel and Thomas Piketty. 2003. “Income Inequality in the United States, 1913-1998.” Quarterly Journal of Economics, 118 (1): 1–39.