The American economy measured by GDP

The American economy measured by GDP, is the largest in the world in total size and among the largest in terms of GDP per person, even after the devastating financial collapse of 2008 and the deep recession associated with it (the worst since the Great Depression in the 1930s). Over the long haul, and despite many recessions and a few depressions along the way, the American economy has grown at a consistently steady pace over the course of its history. For example, economic historians reckon that the average American grew eight times richer between 1820 and 1952. Between 1945 and 2007, during the post-World War II boom, the average American became three times richer.

Is this story of historic economic growth one that can be explained entirely by the efforts of private individuals—investors, entrepreneurs, and consumers—and of private businesses seeking profits in a free market? Or did government play a significant role as well?

Now construct a brief argument for or against this proposition: The government should limit its role in encouraging economic growth as much as possible and defer to the private sector, which is the main engine of economic advancement. How would you defend your position to a fellow student? What would be your main line of argument? What evidence do you believe best supports your position?