Minimal interference means the government acted as a referee, not a player. Markets operated on hard money, private capital, and real risk.

It wasn’t a perfect era, morally or socially. But economically, it was closer to real capitalism than anything that came after.

You’re pointing to state functions that existed, but they didn’t control the market. Defending borders, enforcing contracts, and building infrastructure is not the same as setting prices, printing money, or bailing out failure.

Reply to this note

Please Login to reply.

Discussion

Incorrect, referees do not kill people or make plays. There was a lot of government capital funding things prior to 1913 which I listed.

I did not ask for “closer to real capitalism”. I asked for what you said “true capitalism”.

When did “true capitalism” exist?