Yet, "inefficient" as they are, free markets are the only system we found for this purpose. And it's being proved every day, over and over again. If you know of another, please do write about it here.
Private markets are just fine with long term visions. Job's Apple and Elon Musk's SpaceX and Tesla come to mind.
But, of course, free markets also decide whose visions to adopt. And that is unbearable to leftists who want nothing more than to impose their vision of how society should work on us.