The free market philosophy relies assumes that people are capable of making good decisions. People are ignorant, impulsive, short sighted, knowingly self destructive morons (present company included). The idea that anyone really knows what is best for themselves is pretty dumb. It is even more ludicrous to think that a small number of people could make decisions for everyone better than they can make them themselves.
Perhaps one could argue that though people make bad decisions there tends to be an overall trend toward ok or even good decisions. I think that would be a fairly difficult argument to make, but maybe not impossible.
I kind of lost track of my point, but I think it was when people tell you that the free market will solve all problems just remember that People are ignorant, impulsive, short sighted, knowingly self destructive morons who either often wouldn’t or couldn’t tell a good decision if it hit them in the face.