People predicted it all the way back in the 1800's.

not sure how some people say there's a free market when there are governments applying regulations, central banks controlling the money and so on
crazy

引用自 allegedly：

not sure how some people say there's a free market when there are governments applying regulations, central banks controlling the money and so on
crazy

Because not regulating businesses gives you the gilded age, adulterated food, scams, unchecked pollution, etc. You have to temper market freedoms with methods to keep competition as fair as it can practicably be, by not allowing companies to lie about their products too blatantly, pollute the seas/rivers/groundwater/air because it lets them undercut companies that deal with the pollution they create responsibly, you force transparency on companies so they can't put alum into flour because it is cheaper, or have teams of working carving wood into fake "pips" for your fake raspberry jam, or putting lead citrate into watered down milk to make it look more creamy, etc.

Personally I think government should go significantly further than just attempting to make free and fair markets, and actually try to create competitive markets, breaking up large companies into smaller ones so there are always plenty of competitors in each market - this may lose some advantages like economies of scale and better companies gaining large shares of the market for being good at what they do, but the problems of political corruption (which is only really useful for large companies), and abuse of market position (it often only takes one good product to make a huge corporation nowadays, and then their vast funds can keep them dominating the market for generations even if they never make any more good products or improvements as they can buy out/undercut/lawyer smaller potential competitors to ensure they carry on getting rich even if they are no longer producing much of value to society).

A book I found rather excelket with regard to this topic was Saving Capitalism: For the Many, Not the Few.

The simple reality is regulation is 100% needed for a nation’s economy to function. Without regulation it’s a free for all and buying and selling incentive would die because there is no trust between client and company and no means to recover theft or failure to pay. To me the best example of why economic libertarianism doesn’t work is NFTs and most crypto currencies. They were proudly toted as "unregulated" but this made their markets lawless hellscapes full of rugpulls. Both markets inevitably collapsed on themselves, due to the overwhelming amount of scams and lack of regulation. Even with regulation, it would still have no value in my eyes, but when there is no regulation, human greed has a tendency to takeover unfortunately. In essence, without regulation, everything becomes speculation.

They don’t work when there are human elements

We definitely need more free market principles.
Look at how many bloated useless companies there are now. Many of them should have been allowed to fail and have a better company take their place.