Wow, never thought the country could fall into socialism because the government just over-reacted to some other Economic Doctrine.
It won't fall into Socialism. There is no logic that, IF NOT Free Market, THEN Socialism. That is an invalid conclusion.
First, the only "free market" that any of us might ever see is a Bedouin Bizarre. Unless you are personally negotiating your every purchase and transaction, you are not in a free market. [go to buy gas with $100 in your pocket and the gas station guy needs eggs for his family, you might just not get any gas].
Don't make assumptions or assertions that "socialism" is a byproduct of structured, regulated business. It is not. It has been a part of the American economy since 1787 and will continue through the life of the Republic.