No, "free" in market doesn't mean "fair". Free is freedom to exchange. Other people get left out, some people win and some people lose in exchanges sometimes. Sometimes it's fair, sometimes it isn't fair, but usually the two exchanges are done because both agree to it and see a fairness to it, otherwise if they saw it as outright unfair, they are less likely to agree to the exchange (not that some don't agree even when it's unfair either ;) )
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actually that's a GOOD POINT!
by your logic (and I agree with it) by definition free markets ARE fair.
because...if you don't like the deal
don't DO IT.
If you do like the deal...then you must think it's fair.
I tend to get bogged down at the actual "point of exchange" in markets. The point of exchange typically happens at the place where the seller willing to offer the lowest price meets the buyer willing to (at that moment) willing to offer the most. That is where the actual market is happening.
Now, there may be thousands of sellers willing to sell for a higher price, and thousands of buyers willing to buy at a lower price-- but are they much more than spectators? A good example is the trading of any crypto pair. The actual "trading" only happens inside the small circle:
Of course, a lot of this becomes a game of semantics, as well. What is "fair," anyway?