That argument is basically Hayek's (and Mises's) answer to the economic calculation problem. Hayek argued (in "The Use of Knowledge in Society") that free marke

That argument is basically Hayek's (and Mises's) answer to the economic calculation problem. Hayek argued (in "The Use of Knowledge in Society") that free markets are better than centralised planning, because of dispersed knowledge. https://en.wikipedia.org/wiki/Friedrich_Hayek#The_economic_calculation_problem https://en.wikipedia.org/wiki/Friedrich_Hayek#The_economic_c... https://en.wikipedia.org/wiki/The_Use_of_Knowledge_in_Society https://en.wikipedia.org/wiki/The_Use_of_Knowledge_in_Societ...