Would our economy be better off if we followed the Laissez-Faire Theory [U.S.]?

The Laissez-Faire Theory was presented in the book The Wealth of Nations, written by economist Adam Smith in 1776. The main theme/point of the book is his concept of the invisible hand. It basically states that if the government would stay out of the economy, other than a few exceptions, it would work out on its own. If we had chosen this economic method rather than our current one, would our economy be better off now?