My knee-jerk reaction is to say the libertarians rarely have power during crises anyway, and democracy insures that those who "do nothing" lose their power in the face of interventionist opponents come election time.
Not that they were libertarians, but the presidents during the 1920-21 Depression[1] acted slowly, and the economy bounced back incredibly quickly. From the article: However, by the time Harding had called his conference, the country's economy had already shown signs of rebound, and by 1922 was starting the economic boom of the 1920s[13] and merely allowed for President Harding to claim success.
Not that they were libertarians, but the presidents during the 1920-21 Depression[1] acted slowly, and the economy bounced back incredibly quickly. From the article: However, by the time Harding had called his conference, the country's economy had already shown signs of rebound, and by 1922 was starting the economic boom of the 1920s[13] and merely allowed for President Harding to claim success.
[1] https://en.wikipedia.org/wiki/Depression_of_1920%E2%80%9321