In some theory maybe. Do we have an example? Because what i think, is that unregulated markets have only one law, the jungle law where whoever has more money gets the benefits and creates monopolies and sucks all the money to the point of collapse unless some regulation or intervention saves the day from a further collapse. Like in the case of AIG which has been saved with the money of the people because the market was unregulated and has been left free. There is no freedom in free markets, only debt and slavery. 
The fact is though, that we don't have so far a formula of regulations that gives a solution immune even to external factors. Free markets are not a solution though, they are a problem.