East Germany, West Germany? North Korea, South Korea? Case studies in extremely similar starting points which both tried to industrialize from nearly the same starting point, only differing in how the markets were regulated, with wildly differing outcomes.

I imagine if someone could accurately answer your question they'd win a Nobel Prize. But there is little doubt free market economies vastly outperform centralized economies. Plus free markets are about exercising freedom over how your labor and assets are used. So yay freedom.