It bothers me and feel a need to ask these questions.

First, what is "normalcy"? Is it a sense to be in the middle like the normal distribution that many of us have studied? Turning away from economic for a moment and thinking like an equity trader, would normal be similar to mean reversion trade? More generally thinking, does it mean a sense of balance at a specific time? Could it have other means and implications?

Second, will the economy repeat back to normalcy by itself without people involvement? I doubt the answer is that simple.

Thus my third question is, how can we identify an individual such as Coolidge (his style isn't something a management text book would classified under good leadership category)?