I think this is a feature (or bug) of capitalism. Capitalism (or socialism for that matter) is a hard to use term. No one agrees on its real meaning. Free is definitely a premise. Honest, I'm not sure. I think many free marketers argue that honesty is one of the emergent qualities of markets.

There is a capitalist core though. I think that core says that the non-market system (governments, societies, etc.) need to make sure that things are free. Emergent order will take care of the rest. Incentives & feedbacks will make sure (via the mechanism described above) that transactions are profitable for all parties, that they are safe & that they are otherwise ethical. Honesty is usually included in this.

Again, when I say 'usually included,' it's hard to nail down what I mean. Most people have obviously never considered this particular aspect. They use think in more general terms. But the Capitalism-as-philosophy guys (Libertarians in the US, Austrian-schoolers or Liberals some other places), would consider honesty as something that emerges, part of capitalism.