I'll also note that all of this still mostly reinforces your main thesis.
One major issue with central planning is that it usually lacks the internal feedback mechanisms necessary to properly account for all of these factors.
Price signals usually work faster, and thus more efficiently! The USSR even had an economic reform where they introduced mechanisms that could be described as "shadow prices" within their own system [1]. It was the driving force behind one of the independent discoveries of linear programming.
I'd highly recommend "In Soviet Union, Optimization Problem Solves You" [2] and the novel (historical economic fiction, a nerd's nerd literary category if there ever was one) Red Plenty to learn more.
One major issue with central planning is that it usually lacks the internal feedback mechanisms necessary to properly account for all of these factors.
Price signals usually work faster, and thus more efficiently! The USSR even had an economic reform where they introduced mechanisms that could be described as "shadow prices" within their own system [1]. It was the driving force behind one of the independent discoveries of linear programming.
I'd highly recommend "In Soviet Union, Optimization Problem Solves You" [2] and the novel (historical economic fiction, a nerd's nerd literary category if there ever was one) Red Plenty to learn more.
1. https://en.wikipedia.org/wiki/1965_Soviet_economic_reform 2. https://crookedtimber.org/2012/05/30/in-soviet-union-optimiz...