(As usual, "free trade" or "free markets" is a euphemism for "trade policy that will help the guy using the term 'free trade'". Truly free markets would entail lots of bad things like freedom of children to work and the freedom to create Bohpal disasters. This is no exception)
Children working is better than a family starving to death no? Child labor laws are a first world problem, and could have disastrous consequences for the third world. Union Carbide was a corporation, a legal fiction in which ownership is divorced from responsibility, that cannot exist without privileges given to it by a state. State capitalism has little to do with actual free markets i.e. voluntary trade in a free society.
Agree with you about the TPP, though, and the way that the term "free market" is often used in the vulgar sense.
People are starving (well usually the problem is that they are very poor, not literally starving) because they don't have money, because they don't produce things of value that they can trade for money. Free trade gives people the opportunity to produce more value (e.g. by working in factories or producing cash crops) so that they can earn more money.
I honestly feel like a pro-vaccination advocate when I post about economics.
EDIT: And to address your (very weak) point, how does working in factories not make people in poor countries richer? Are you aware of what a Chinese farmer makes per year, compared with a Chinese factory worker?
In practice, a corporation by far is most likely to owe money to its creditors, and not random third parties. In this case, all limited liability does is create a default contract (and rule out alternatives) in which the creditors cannot go after the investors, but can seize the company if it stops repaying its debt.
It allows a lot of good things like Chinese workers being able to earn $2 an hour instead of $0.20 an hour.
EDIT: $2 an hour is from about 5 years ago when Chinese manufacturing was more controversial. Now it's more like $3.50 (http://finance.yahoo.com/news/china-manufacturing-wages-rise...)