 In laissez-faire capitalism, the government has no function to perform with regard to money. There is no central bank. ... This is essentially the monetary system that the United States had between the Civil War and the establishment of the Federal Reserve in 1913. Under that system, the United states had an average annual rate of economic growth (over 5 percent a year) higher than any country has ever had over a similar period of time in the history of the world.
M. Northrup Buechner
Buechner, N. M. (2011), Objective Economics: How Ayn Rand's philosophy changes everything about economics, Lanham: University Press of America, p 19-20
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