Would We Have Been Better Off Without a Federal Reserve System??

Zerohedge reports:

Nearly 100 years ago, on December 23, 1913, the Federal Reserve Act was signed into law, giving the U.S. exactly what it didn’t need: a central bank. Many people simply assume that modern nations must have a central bank, just as they must have international airports and high-speed Internet. Yet Americans had gone without one since the 1836 expiration of the charter of the Second Bank of the United States, which Andrew Jackson famously refused to renew. Not to be a party pooper, but as this dubious anniversary is observed, we should ask ourselves, Has the Fed been friend or foe to growth and prosperity?

We link to the article mentioned in the above post by economists George Selgin, William Lastrapes, and Lawrence White. The Fed's failures have been great, you'll want to read this article.