Depends on how one defines FREE MARKET.
As it stands now?
There is NO WAY to do that.
This IS part of the systemic problem of our economic system I sometimes refer to.
Yes, that's a good theoretical description for a free market.
Where it gets theoretical is with the word "unfettered".
Every market is fettered by something (the law, or the traditions of the people involved in that marekt) or it would not be possible to even have a market.
free competition is a contradiction in terms.
In order to have competition in a market, the market needs
rules of competition. Rules imply a LOSS of ABSOLUTE freedom. Hence no market is entirely free. Its an impossiblity.
Markets can be free only as defined by the PLAYERS agreeing to play by the rules of their market
Bingo!
Most of what right leaning people think Adam Smith said about free markets and government is wrong.
Few of them, I suspect, ever bothered to read his works. They depend on some talking head's interpretation of what the man said, generally those propagandists take Smith's word out of context in order to prove their point.
What I am saying is this...w
hen the value of human labor is replaced by smart machines, then society either finds a new way to divey up the wealth or a significant percentage of the population finds itself unable to participate in that society.
Here's the facts leading to the economic trends humankind is facing.
1. Machines can do more physical labor than humans (industrial revolution)
2. Technology can and is now replacing much of the intellectual labor that humans formerly had to do. (Digital revolution)
3. Machine and digital laboring devices are cheaper to run and cheaper to maintain than human laborers.
4. Therfore owers of smart machine production make more profits than human labor production.
5. Capitalists who choose NOT to take advantage of technology's higher profit making ability inevitably will be driven out of business by those capitalists who do take advantage of technology.
You can do the math from here, right?
You can see the trend for the value of human labor, right?
We are going to achieve a technological singularity soon.*
That's where smart machines make new smarter machines until those machines can replace ALL human labor, physical OR intellecual.
Now that may leave a very tiny percentage of the population fabulously wealthy, but it will also leave the vast majority of people (regardless of how clever they are, how strong they are, how ambitious they are) essantially with NO MARKET VALUE
as workers.
And if you tell yourself that this is science fiction, or if you imagine that this technology revolution is going to work out like the industrial revolution, then you must not understand why UNIONS were so necessary to change the social contract to accomodate the new reality of industrialism
The solution to this happy smart machine technology problem is a new SOCIAL contract.
But there is no path to a new social contract possible in classical capitalist economies.
In large part that is exactly the problem we are facing right now, and citizens, that problem is going to get worse and worse and worse, until something DRASTIC comes along to force us to change.
I think you and I are basically on the same page here.
Mankind is facing a choice THIS CENTURY.
It can recognize where the techology is taking us and adapt our economic system to make this a BOON to mankind.
Or...
We can deny this is happening until there is a large enough percentage of the population who are so disenfranchised that they have NOTHING TO LOSE.
People with nothing to lose have everything to gain from CRASHING the system.
*The technological singularity is the theoretical emergence of superintelligence through technological means.[1] Since the capabilities of such intelligence would be difficult for an unaided human mind to comprehend, the technological singularity is seen as an occurrence beyond which events cannot be predicted.
Proponents of the singularity typically state that an "intelligence explosion",[2][3] where superintelligences design successive generations of increasingly powerful minds, might occur very quickly and might not stop until the agent's cognitive abilities greatly surpass that of any human.
The term was popularized by science fiction writer Vernor Vinge, who argues that artificial intelligence, human biological enhancement, or brain-computer interfaces could be possible causes of the singularity. The specific term "singularity" as a description for a phenomenon of technological acceleration causing an eventual unpredictable outcome in society was coined by mathematician John von Neumann, who in the mid-1950s spoke of "ever accelerating progress of technology and changes in the mode of human life, which gives the appearance of approaching some essential singularity in the history of the race beyond which human affairs, as we know them, could not continue." The concept has also been popularized by futurists such as Ray Kurzweil, who cited von Neumann's use of the term in a foreword to von Neumann's classic The Computer and the Brain.
Kurzweil predicts the singularity to occur around 2045 while Vinge predicts some time before 2030.