Any chance you're talking about The Road to Serfdom by Friedrich Hayek?
I haven't read the above book in ages, but I did stumble across the following on an amazon review of a closely related book named Individualism and Economic Order, which is a collection of several essays:
After dealing with the absurd notion of full information, Hayek turns
to three issues. First, Socialists once aimed at overcoming the
results of markets. Now they accept the results of market competition
as a standard to aim at. Second, an omniscient and omnipresent
dictator would also require omnipotence to plan an economy using their
omniscience. Even if they had omniscience, the central planners would
still have to work through an imperfect bureaucracy. So the notion of
omnipotence is absurd. We must look at the actual bureaucratic
problems that planners will face. Third, Perhaps, in a world of
unchanging data Socialist planners could arrive at efficient prices
for the means of production through trial and error. But, with
changing data, the plans of the authority will never match the
decisions of the 'man on the spot'. Hayek discusses incentive problems
and knowledge problems at length, and also mentions the potential for
abuse by concentrating power into the hands a few. This is the subject
of his book "The Road to Serfdom".
Given Hayek's economic views, it wouldn't be too surprising to come across an essay which supports the free market over planned economies.