During communist years here in Eastern Europe, we got to experience the "knowing people in the Nomenklatura and Party" resource allocation algorithm.
It was obvious to us that the "people with most money" algorithm was vastly superior since it made people work harder to get those money, thus enhancing the society. Also, the extra cash strongly incentivized and funded people to create more of the scarce resource.
The other algorithms failed to incentivize to such a degree that in the end we were starving and freezing because nobody wanted to work to create food, heat or any other products and services anymore.
It was obvious to us that the "people with most money" algorithm was vastly superior since it made people work harder to get those money, thus enhancing the society. Also, the extra cash strongly incentivized and funded people to create more of the scarce resource.
The other algorithms failed to incentivize to such a degree that in the end we were starving and freezing because nobody wanted to work to create food, heat or any other products and services anymore.