Markets don’t necessarily need profit incentive, just that different people have different preferences for the things being offered. There are examples where markets are created and used to allocate resources where the exchange currency isn’t even money, such as time banks.
“Duplication” of production is not inefficient from a macro economy perspective. First it provides supply chain redundancy, second it typically incentivises innovation. If you assume a centrally planned economy (which is the typical opposite of market based in discussions) both of these benefits of duplication hold in theory.
Markets don’t necessarily need profit incentive, just that different people have different preferences for the things being offered. There are examples where markets are created and used to allocate resources where the exchange currency isn’t even money, such as time banks.
“Duplication” of production is not inefficient from a macro economy perspective. First it provides supply chain redundancy, second it typically incentivises innovation. If you assume a centrally planned economy (which is the typical opposite of market based in discussions) both of these benefits of duplication hold in theory.