The free market was designed with the notion, that even those who are rational, and self interested, would be serving society, providing goods and services to feed their insatiable desires for more goods and services.
The solution to the problems of the time were to create ever more goods and services in an infinite growth model.
With the greatest GDP in the world and while consuming huge portions of the world’s resources, we are beginning to realize that there are other desirable ends which we are not currently measuring or taking into account; Desirable ends which cannot result from the work of the ‘invisible hand’.
The benefits of collectively deciding on sets of desirable ends are huge, as we are able to cooperate and construct a society which can work toward those ends. We are now in a phase of learning about what these ends might be.