If we pick a Forlucan diety, then greedy hoarding practices won't be a failure mode. It will be the intention of the design.
The Forlucan pantheon was created and enforces a system where you have a superior rich upper class and an inferior impoverished underclass.
Actually, the Forluc consider an impoverished underclass to be undesirable and a sign of failure. It is a point of superiority that a noble is able to ensure that their peasants are doing well if your peasants are doing poorly, your rivals will leap at the chance to point out how you are a failure compared to them with their non-impoverished peasants. The Forlucan upper class consider making things worst for your inferiors to be a sign of your own inferiority as you are unable to maintain your own superiority except relative to others. They desire to be giants amongst men not men amongst dwarves.
As a result, the Forluc upper classes are incentised to avoid an impoverished underclass because it makes them looks bad and exposes a weakness to their rivals. That isn't to say that it doesn't happen, but it isn't considered desirable by the Forluc under their system.
All the failures of the state controlled model are eliminated through divine intervention. Given that, the state controlled model is likely more productive and stable than free market based systems.
I wouldn't say that it is divine intervention. While religion is very important to pretty much any society in this era, it more due to economic and social factors than any deities directly intervening. First of all, the Arthwyd are built around a communal social unit and while that is arguably the result of divine intervention, I consider it to be important as the Arthwyd are built around a group calling the shots compared to individuals. This has also resulted in the Arthwyd only having a state controlled economy as
Secondly, the Arthwyd are rich and haven't had a shortage of resources. This has allowed to be inefficient in their resources usage because they got enough resources to make up for wasting some.
Third, the Arthwyd have different priorities. Their economy is built around their community providing for the individuals that make it up and not about procuring the most resources or acquiring as much wealth as possible. So while their economy could be more efficient at maximising resource production and allocation to get the maximum amount of resources in play, the Arthwyd consider that undesirable as they want to make sure that everyone is looked after. So as long as everyone has their basic needs met, the Arthwyd consider being inefficient with their resources to be acceptable trade-off.
Fourthly, the Arthwyd are only nominally/
de jure centralised. In practice, they are
de facto decentralised with vast amounts of power being given to the local authorities in settlements of which most are self-sufficient. Their centralisation government works due to it being an honour system that everyone believes in due to wanting to help the overall community that they are a part of. Each local authority gets to decide how things are done locally, how the resources are distributed and produced along with what resources to send further up the government chain.
The Arthwyd state-controlled models still has its inefficiencies and failures, but they are considered acceptable trade-offs by Arthwydsh society and the vast wealth of the Arthwyd Empire lets it migrate the problems of its plan economy due to having enough resources to allow for being inefficient with resource output and usage.
