[quotemstr]

Too much delegation to a third party is called a command economy and history is full of examples of that approach not working, examples going all the way back to the palace economies of the ancient Minoans. The problem is that no third party has enough information or the right incentives to decide fully who should produce what when --- the problem is called "the calculation problem" and has a huge literature. Decentralizing resource allocation decisions using pricing is the only approach that's been shown to work.

[fatbird]

There's a whole lot of daylight between unregulated capitalism and command economies.