Markets Aren't Efficient

According to Paul Krugman and others the Efficient Market Hypothesis is the bunk.  According to Matthew Yglesias Economics is a science, except when it isn't. Yglesias on taxis but, really, on everything:

there’s no reason to think a central planner is going to get this done better than the market.

In other words, even though, scientifically speaking, markets aren't efficient they are. Also if by "central planner" he means Soviet-era, perpetually-drunk, afraid-of-being-purged apparatchik, then my dog could do a better job; if, on the other hand, he means professionally trained double doctor in civil engineering and traffic flow concerned about the public good and not profits then I can think of all manner of reasons why the "central planner" would be the better option. I mean a "market" is the chaotic process in which those with the most money create a world that bests suits those with the most money, no?

UPDATE:
Yglesias likes capitalism, which isn't a thing but rather a system in which the more money you have the more the "markets" reflect your wishes and, besides, profits matter most, when it comes to urban planning because the people and their representatives shouldn't try and construct their social spaces when those with money can construct them for us.