My working definition is 1850 to 1950 US economy. It is probably our best example of free market (lightly regulated economy, only enough to keep the markets free). And yes the whole society gets wealthy, and it concentrates with some small percentage (pareto effect). So then we have to ask ourselves, do we want an overall wealthier society with some concentration of wealth (USA), or a more equal but poorer society (North Korea, Cuba, Soviet Union, et al)?

> It was only government regulation that prevented further abuse and raised those poor people out of poverty.

Which regulations and when? If you look at the estimated poverty graphs, I bet the poverty reduction started well before any of your example regulations. The regulations take awhile to take effect, and probably contributed to the leveling off of the poverty reduction decrease in the 1960s. You need evidence if you are going to try and rewrite history.