Re:Markets are efficient if and only if P=NP (2010)
by TheOtherHobbes on Wednesday October 21, 2020 @07:19AM
(#24846663)
The EMH is also conflating an economic model with a political belief system.
The notion that these huge corporate bureaucracies are somehow "efficient" at anything except trashing the environment and homogenising and controlling - if not ultimately economically cannibalising - their own workers and customer base is clearly counterfactual.
You are conflating an economic model with a political one. In fact, the central planner doesn't even need to be a person, but a set of assumptions and strategies that can be measured against the benefit they provide and be continually adjusted.
You touch an important point, however. The people most affected by Walmart's central planning, their employees, have no say in what strategies and assumptions the central planner uses and that removes any incentive to provide benefit to them.