Problems with a free market society?

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rootX had some very interesting related questions about (ideal) free markets (run by real people) in the other thread:

1) How government should afford military expenditures? or Who should be responsible for the nation's defense?
2) What should be the government objectives?
3) What should be the course of action where government objectives and free market goals interfere?
4) Is free economy prone to more boom-busts (or greed)?
5) Will profit maximizing society be sustainable in the long run? Often, short term profit maximizing goals interfere with the long term sustainability.
Or, If free market can sustain itself in the long run?
6) Should there be any public services?

Will anyone try to answer them?
 
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