In a hypothetical perfectly efficient planned economy, you’d assume it would look just like a perfectly efficient free market. However the objectives of a plann

In a hypothetical perfectly efficient planned economy, you’d assume it would look just like a perfectly efficient free market. However the objectives of a planned economy aren’t market efficiency, the objectives are at least superficially supposed to be whatever the planners deem to be socially equitable wealth distribution. This requires overcoming market forces, by dictating supply with a central plan, and ignoring demand by arbitrarily distributing resources. This doesn’t scale up from a household scale to an economy-wide scale for numerous reasons, but probably the most significant ones are: 1. The non-existence or competition means that inefficient enterprises cannot fail. 2. The mind-boggling complexity of centrally planning the supply chain of an entire economy unavoidably introduce massive inefficiencies. If a household wants more bread, they can just allocate more resources to buying bread. But if I want to plan for an economy to produce more bread, I need to individually allocate more resources to every single element of the bread supply chain. There’s no way a central planner could be expected to do that with the same efficiency as market forces could.