While I'm sure Hayek was correct in his time, I wonder if it would now be possible to construct a better way to allocate resources than the price mechanism. Eve

While I'm sure Hayek was correct in his time, I wonder if it would now be possible to construct a better way to allocate resources than the price mechanism. Every person now has a device in their pocket with which to instantly communicate their needs, and we have the computing power to calculate at a scale that was unimaginable to Hayek. The price mechanism seems like a slow way to transfer information, and produces (possibly unwanted) side effects like wealth concentration.