People came up with the information problem at a time when our ability to collect information and our computing power were several orders of magnitude inferior to what we have today. I don't think it's as big a problem as people think. Sure, it was true when every single person didn't have a device capable of instantly sending any kind of information to and from any location on earth, and when we didn't have the computing power to process that amount of information coming in 24/7. Now we do, so I believe a well functioning planned economy would be a possibility today, although it'd be a massive project to build such a thing. Even with limited technology the soviet union functioned for multiple decades and was one of the most developed nations on earth.