Is the market 100% efficient? No, certainly. But just because it isn't always efficient, doesn't mean that it isn't monumentally better at advancing the human condition than an economy run by a few central planning bureaucrats.
Russia and China developed through central planning, and free markets do a terrible job helping other countries develop.
The best outcomes seem to rise through some combination of both central coordination and market-base approaches.
And you should check what happened in Germany after the WWII: one country, split in two, one with central planning, other with mostly free market. Guess what was the result 40 years later? Same thing for Korea: one country, split in two, one with central planning, other with free market. The free market country gets western standard of living, central planning gets poverty, stagnation and famine.