A totally free market with absolutely no regulation is not a good idea. An example of that scenario is Somalia. One could argue that Somalia is the most capitalist country in the world.
Adam Smith invisible hand is often misunderstood. For Adam Smith it meant something entirely different than many people think today. They think he meant that through adjustment of price demand and supply will be matched on a reasonable level and this is something of a economic law of nature.
Adam Smith however saw "the invisible hand" as the hand of God. To him it was the justification for why the rich stayed rich and the poor stayed poor. It was Gods hand! Because in his day there were lots of workers and huge unemployment and wages kept falling to starvation levels.
The rich have always felt and will always feel that their richness is somehow justified by a higher cause. They are different. Either it is because they are related to the Gods, or because God clearly loves them better than the rest, or because evolution made them the top of the food chain. And it makes them pretty insensitive to the suffering of the people they exploit.
Free market is an ideal! It does not exist in the wild as our economy is driven by greed and profit. For profit driven companies it is much more attractive to end the free market and become oligopolists or monopolists than to compete on price. That is why we see these constant takeovers. By rooting out the competition one can set the prices in stead of following the prices.
Whatever they may say: profit seeking companies are long term against free competition
The Free Market ideal only exists in Nature where there is a lot of abundance. In society driven by greed, free markets can only exist through government regulation. That is why the USA is the most heavily regulated country when it comes to markets and employs relatively most government workers. It pays off as prices in the USA are some 25% lower than in Europe because of that.
Lately the USA has be deregulating. Bush did that with some terrible consequences. For instance deregulation of oil market led to speculation that drove oilprices to above $200 a barrel. And deregulation of foodprices led to doubling of the prices of rice and grain for people in developing countries. that was the cause of the Arab Spring.
Without regulation there is no free market!
Many people think that free market means no government interference, but it is exactly the other way round. Trump is going to deregulate further and the result will be more speculation, takeovers, less suppliers and higher prices for the consumers. That is what the corporations want.
In the same way lower taxes for corporations has not led to higher employment but has enable corporations to drive out the smaller competitors. These smaller competitors combined employed much more people than after the takeover. Big corporations take them over, buy them out, or lower their prices to a level they can no longer compete with. That is why the USA now has the least number of self-employed people in the world. They still call themselves the land of the free, but are all wage slaves, and 80% is working for big capital. (In the past Republicans were horrified about the idea of wage slavery and called it that name).
American people nowadays understand little about the great ideas of their forefathers. They think neo-liberalism is liberalism, while in reality it is neither new nor liberal. It is corporatism and corporatism is feudalism in disguise. A new kind of capital feudalism is rising and trying to take over the world and destroy local companies. It is colonialism 2.0 but this time it hits the rich and the poor countries. This degeneration is called "
The iron law of oligarchy". This is what our ancestors have been fighting against, and why they made the constitution.
A person who has been warning about this for years is
Ron Paul, but few people care to listen to him. They rather listen to utter liars like Donald Trump, one of the new corporate aristocracy that is going to destroy free market in return for the corrupt corporatism. The presidency is becoming a family business. His daughter is now sitting in with foreign leaders so they can strike business deals for the family.
