I am here to posit a potentially revolutionary hypothesis (not mine) that could succeed where the free market has currently failed.

The free market is a force for good, that I can agree with. However, like any trial and error system (indeed like biological evolution) there are massive successes and massive failures. There is, however, a way to maximise success and minimise or eradicate such failures.

Do not confuse what I propose with a communist economy. What I propose is an economy of a country controlled democratically. Rather than the selfish trends of supply and demand, a united peoples can shape an acceptable and invulnerable economy. I'm not a socialist and believe that the free markets are a failsafe method to reach economic stability.

However, isn't this the goal of the free market: To develop an economy shaped by the people which is ultimately stable and invulnerable.

Isn't it possible we can use our intelligence as a species to shape the economy here and now into the ideal? Why must we wait for the markets to settle into stability?

It could take hundreds of years for our economy to reach the perfect balance. Why don't the people seize the economy as a whole rather than separate units.

With all the economic turmoil, perhaps this course of action is necessary, even overdue.

The persistence and survivability of the free market is it's ultimate strength, so maybe this course of action shouldn't be taken until we can be accountable for our decisions.
Do you agree?

I think I can see where you're coming from on this, however the huge advantage if the free market system of supply and demand is that it's both rapidly responsive to changes in both economic and social conditions, to allowing new players into the market to fill gaps as they emerge and to allowing society to develop into a natural hierarchical structure. It's certainly not perfect, but any form of planned economy, no matter how benign the concept behind it, has been shown to be even worse as it's both bureaucratic, unresponsive to change and forces people into an unnatural society where their individual talents aren't allowed free reign and they can't take hold of opportunities which can benefit others as they occur.