Maybe I am incorrectly conflating Economics with the Economy. I understand your point about economic forces producing an outcome that is less optimal due to our failure to consider present and future effects of our decisions.
My point is that if you look at this from an economic point of view, you should be able to figure out whether or not it is good or bad (or at least know what information you need to figure out if it's good or bad). See my other comment on this thread: https://news.ycombinator.com/item?id=13108119
We could, as you say, analyze and figure out whether or not any given market "innovation" is good or bad, but the big problem is - we can't meaningfully act on such information. Coordination is superhard[0], and in the meantime we all make individual choices based on momentary value differentials - choices which the market will happily aggregate and amplify, whether we like it or not.
You're spot-on in splitting the problem into two in your other comment.
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[0] - especially if you frown at one of its most powerful form in a large society - government regulations.
The economy often gives us good solutions, but it also often gives us bad ones. The economy doesn't care either way.
C.f. http://slatestarcodex.com/2014/07/30/meditations-on-moloch/.