We have not had free market capitalism since at least 1913, with the founding of the Federal Reserve, which is not Federal and has no reserves.   To have free markets, you must first have free market money, which we have not had for over a hundred years.  To have capitalism you have to have capital, and we have a credit based system (dollars are loaned into existence).  

Regulations are used to control our centrally controlled credit based system.  A more socialist system will require more increases in regulation.  Those that "game" the system will continue to get farther ahead of those who don't.  

The depression resulted from the collapse of the credit expansion which caused the roaring 20's.   The results were socialistic tendencies, failed economies and war.  The credit expansion with was kicked off with Nixon closing the gold window in '71 seems to be starting its collapse. The results will probably be similar. Your grandchildren will learn to see socialism as your grandparents.