> Letting the market allocate resources has a lot of inefficiencies, but it works better than any alternative that has been tried.
I don't think we've ever tried having the market solely allocate resources. I think pretty much every government has regulated trade, collected taxes, that sort of thing. What seems to have worked best would be letting the market allocate resources to some extent, but collecting taxes and investing in long term goals (such as research and infrastructure). But maybe this isn't necessary, maybe in a truly free market there would always be genius entrepreneurs like Elon Musk appearing every now and again to progress humanity. Still, there's a massive difference between the kinds of long term planning that modern western democracies already do and a communist dictatorship.
I don't think we've ever tried having the market solely allocate resources. I think pretty much every government has regulated trade, collected taxes, that sort of thing. What seems to have worked best would be letting the market allocate resources to some extent, but collecting taxes and investing in long term goals (such as research and infrastructure). But maybe this isn't necessary, maybe in a truly free market there would always be genius entrepreneurs like Elon Musk appearing every now and again to progress humanity. Still, there's a massive difference between the kinds of long term planning that modern western democracies already do and a communist dictatorship.