[kaashif]

Not quite. There is information that's not part of the price system.

National defense isn't going to be priced in by markets. And food security is national security, even if it's "more efficient" to ship food in from your geopolitical rivals.

[scld]

Fair, but none of that has anything to do with the most efficient and desirable use of a particular plot of land for 99.9% of a town/state/country.