I have mixed views over "the free market". In many ways I think too much competition is a bad thing, leading to silly prices e.g. for milk here in the UK. I still feel competition in essential services like transport and energy is daft. Yes, I know, competition is in some ways good, but why should shareholders make profits? Surely, we the taxpayers should be the shareholders? I know this very left wing, but to me it seems "right".
On the other hand, competition can bring overpriced goods down to reasonable levels. There has been a recent example where an overpriced Japanese radio transceiver has already dropped from £1299 to £991 as a result of competition. Dealers were not passing on the recent improvements in the exchange rate. Each was happy to cream off profits, at the expense of the consumer, until competition encouraged the price to fall. I think a price war is inevitable.