No.
Georgejorge has made the best post on this so far
Free market is pretty much poop. So far people have argued here that it's better with bigger empires, better with smaller empires, better on pangaea maps, etc. Part of the reasoning in all of these is valid, which actually leads to the demise of the civic as a good option.
1. "You don't need SP if you don't have a big empire".
- Sure SP helps more if your empire is big. FM helps A LOT more if your empire is big. The only reason you would get FM is to run corporations -- corporations need a lot of resources to be worthwhile (namely mining corp has to grant you enough hammers).
2. You need SP for big empires.
- This is still true though! And that's the problem. It still costs a ton of hammers in infrastructure to lower maintenance costs, and you probably wouldn't get more gold from the trade routes then you'd lose to high maintenance. And of course, you get no +10% hammers or food to workshops.
3. FM is good on pangaea (where you don't need SP maintenance reduction)
- Revert to earlier point about not having resources. But what's worse is on pangaea the game ends a lot faster, and so your economy stops mattering a lot sooner. As george points out on a normal pangaea map you're cuir rushing by the time you have FM open, and it's not even worth the turn of revolt even if SP/merc weren't options.
FM makes some sense if you're set on a peaceful late space race game.
The main reason people run FM and not SP is simple. They don't like workshops. They look yucky. Lowering food (initially) and increasing hammers isn't nearly as fun as just more food or more gold. But workshops are actually boss once you get to chemistry and run SP/caste. The fact that this coincides with the strongest breakout (cuirs) makes it all the better.
Limiting your actions to things that are Pareto efficient is toxic on civ. You will build virtually all the infrastructure, your investments will take way too long to pay off, and you will start trying to win your games in the 19-20 centuries. But there's a cutoff usually around emperor level where you won't be able to outtech or outbuild the AI consistently like this.
TLDR: The economics civics come too late, and the main issue at that point should be production not commerce. SP has +10% immediately, and if you commit to running workshops your empire's production can pretty much double or triple when your workers are done improving. FM doesn't help production until centuries later with mining corp.
Its only the icing on the cake that usually if you're playing to win your empire will be big enough at this time that you save more gold with SP then you would gain with FM.