Of course it can be wrong, and it is in many instances. It's a religion. The vast, vast majority of us would prefer to live in a stable climate with unpolluted water and some fish left in the oceans, yet "the market" is leading us elsewhere.

I don't like the idea of likening the market to a religion, but I think it definitely has some glaring flaws. In my mind the biggest is that the market is very effective at showing the consensus of short-term priorities, but it has no ability to reflect long-term strategic consensus.