There is no serious debate anymore, USSR imploded from impossibility of central planning, even despite attempts to computerize the process. Even if every single factory manager was honest and knowledgeable and even if every single worker put in 100% effort for no extra reward, modern economy is not centrally computable and contains factors not knowable apriori, such is whether consumers will like a certain style of shoes once they are already made and on the store shelves. These things need to be discovered bit by bit through local knowledge and private assumption of risks, which in turn is only possible through incentive of private enjoyment of rewards.

However, I am also tired of both sides claiming that labor unions, or social safety net, or some amount of government regulation are socialism and therefore either "see you like it, lets have some more" or "if government provides a health insurance scheme, it's Gulags right away". These things are governments or voluntary organizations of workers leveraging productivity of free market to accomplish some additional tasks deemed to remain unaddressed by market forces. Mind you, I am not a fan of lots of government, especially on central level. There are separate arguments about incentives for providers of aid to remain efficient and for recipients to be grateful and responsible. But let's have intelligent conversations about each thing rather than "Medicare is communism and border control is fascism".

There are also objective negative externalities like "if I didn't buy smoke from your factory, you have no right to blow it over my house", where regulation actually advances voluntary free market. Some movements like Georgism have interesting proposals to use mitigation of externalities to fund whatever government is needed while making market more efficient.