There are small business cycles in a free market but never enough to create a depression. Only government intervention can create a depression. But the business cycles we have been going through the past 85 years are created by the Federal Reserve. Any time you spend tons of money you have to pay for it later. That is what we are doing. You can prevent depressions by not inflating markets or the currency.
United States of Amnesia. The free market is the best. Our first 130 years proved that. But nobody is willing to remember American history. We only have short term memories. The value of our currency increased without regulations and inflation the currency in the 1800's.