I read the literature of this Post, and some of the work behind it. I am confused by it, because I recognize the real failure of State Planning. It cannot foretell the future! The Counterpoint intrudes that the Markets actually set the Production Schedules of the economy. They respond to the amount of Production materials available, and combine those materials with the desire to possess the materials for Production, and thereby set the Production Schedules. This might seem like a ludicrous idea to Some, but is the reality!
Markets not only set the Production Schedules, they also assign reality to Consumer Demand. This later is not only Consumer desire, but the ability to pay the Cost of supply of that desire. My grandfather wanted a new Cadillac all his life, and never had one. The entire issue was the Price on the vehicles. He settled for Fords. Why? Much of the material Cost of the vehicles were the same, but levels of Production and amount of Consumer desire was translated into Consumer Demand by Price. It is these two equations exposed which define the success of Markets.
Economic models never account for future demands placed upon the economy, while Markets automatically assess the alteration of viable Consumer Demand immediately. Materials can shift over the period of a day from one endeavor to another. Consumer products can rise or fall within an hour; check the entirety of Gasoline pricing and arbitrage. Markets were the first computers of the human race, and will undoubtedly last the longest! lgl