The problem of the free market is known to all. We invented anti-trust laws, unions and even communism itself is a response to it. That said, a free market is the engine of innovation and efficiency. We flail without it. The solution lies in finding the right way to keep the markets from being manipulated by those who are successful. It is not the market that is at fault, it is always the manipulation of it that creates the problems. The reason lobbyists make so much money is that they are in the business of manipulating the market. Our politicians get rich by helping the rich manipulate it.
One could hope that Socialism could provide a solution but it actually only makes the problem worse. Socialism is one-hundred percent manipulation of the market.