This is also a feature of distributed economies; it’s just the communication overhead to make a change centrally means that bad decisions are less easily repaired. AI and electronic data feeds seriously could be tried to fix this. There are good advantages to a centralized economy… the trick is getting the objective function right.

And it’s not like modern capitalism has done a good job of that anyhow.

Well, yeah, that's how we got cities with a huge amount of land dedicated to economically parasitic parking lots in the first place.