The freer the market, the freer the people
In my opinion, if you leave the market free, both good and bad things will happen, but I think that most of them will be bad.
I do believe that if market will be free - a lot of mistakes will be made, however after some time most of people will understand what they need to do in order to use free market without being scammed/losing own funds.
But until market is free most of our society won't even bother themselves to learn such things.
Thus being said - freer the market, freer the people. Sounds delightful, but in reality free market would be hard to live with.
I believe that mistakes with always we made. Humans are lot perfect, so it's in our nature to do mistakes but we also have the ability to learn from them. In a centralised regulated economy we will see also big mistakes, these mistakes are usually not covered by individuals but by the hole population. In a free market people are free to make their own mistakes but have to live with them. On the other hand the upside potential is much higher in a free market, everyone can get rich. Where as in a regulated market only the government and its close allies get rich.