================Free markets in itself isn't bad. Free markets without any oversight is the problem. The banking crisis being a perfect example. Once you say the goverment has no right to regulate how profit is to be made, pretty soon. Profit will be made on everything even when it is against the common good.I've come to the conclusion that the average American is either too stupid or too preoccupied with stupid shit to look further into the future than about a year. The really sad thing is that the major proponents of 'free markets' are the people who will be the easiest to replace via automation and AI.
It depends what you mean by "oversight." Giving a way to redress things like fraud, sure. Government providing "oversight" being a euphemism for controlling markets, no. That's just a version of socialism. Government only has a role in ensuring free markets by providing civil and criminal courts. Government never itself makes markets freer
Completely free markets result in horrific corporate abuses. Like hamburger than isn't really meat and drugs that have been watered down or insufficiently tested just rushed to market to grab a profit before some other company can.
We had the best economy when we had pretty good regulations and there were usery laws to prevent things like Payday Loans with 400% interest. There's another example of what happens when an industry isn't regulated. Poor people financially raped because they can't get loans from banks.
Bull crap, corporations can't do that to you when you are free to walk away. What you are describing is what happens when government removes and restricts their competitors, and that isn't free markets, that is socialism
When the car is broke down and the rent is due and the baby has to go to the doctor and you have no insurance because you work for an asshole, YOU HAVE NO CHOICE TO WALK AWAY.
When it's the only place in town with jobs, YOU HAVE NO CHOICE TO WALK AWAY.
The only thing that prevents you from walking away in a free market is if they are your best offer, which means you are earning what you are worth. If you want/need more, it's on you to make yourself move valuable