Both barbells and dumbells are 'freeweights', but if you mean dumbells rather than barbells, the short answer is yes.
The longer answer: actually, dumbells have some advantages to barbells, such as working each side equally (without allowing the stronger side to compensate for the weak side) and engaging more stabilizing muscles.
About the only advantage barbells have is comfort and convenience of weight placement for some moves like squats. You can also lift more total weight with a barbell (but part of this is because of the compensation and because of using fewer stabilizing muscles).