I have been very critical of the exhortation. But, I can say that this proposed translation makes sense.
Will free-market economics by itself result in everyone being better off materially and better off in the sense of being included in the human family?
Free-market economics by itself will result in A LARGE MAJORITY being better off materially and better off in the sense of being included in the human family. But, what about children, those enfeebled by old age, those who suffer from serious illness or accident, and those who are lonely and despairing?
(Granted, some of these we can handle with insurance; e.g., pensions, life insurance, unemployment insurance, and health insurance.)
Furthermore, free-market economics ENABLES us, in charity, to generously provide for those among not entirely able to provide for themselves.
But, we ALSO need CHRISTIAN LOVE to act on the opportunity provided by free-market economics to provide the material support that some need. EVEN MORE THAN THIS, only Christian love can reach out to the lonely and those who are despairing with the Gospel message of hope.
I would also say that true poverty has little to do with the material standard of living provided by free-market economics. People can be, and all through history, were poor by the standards of the advanced economies of the world of today; and, yet, many were happy. What is most important is that those who are able to work find work through which they can serve others, so that they have rightfully earned their place in society; and, that they enter the family of mankind on the basis of free association.
Yes, because of our ignorance and selfishness, it is a good thing that we have a free-market economy. But, it would be a better thing - whatever is the economic system - that we put our trust in God and that we love one another.
This is the point right there. Without a Christian ethos, then that's when one ends up with "unfettered Capitalism" (what I call "Ferengi economics" -- my inner Trekkie is showing). But as you say, the free market is the only system that allows us to truly practice "Christian economics." Christian economics is simply impossible under a socialist scheme, as one will inevitably end up worshiping a false God (the State).
I am surprised you wouldn’t think children, the old and the ill wouldn’t be better off with a free market system. With more prosperity from a free market system comes more practical charity. With manipulated markets comes less.