Depressions and mass unemployment are not caused by the free market but by government interference in the economy.
Free markets. What does this system mean? The answer is simple: it is the market economy, it is the system in which the cooperation of individuals in the social division of labor is achieved by the market.
The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.
The policy of letting the free market determine the height of wage rates is the only reasonable and successful full-employment policy.
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