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If we're talking about a Glorious Post-Singularity Future then presumably the superintelligent AIs are not only ruling the country and making economic decisions but also doing all the work, and they probably have magic nanobot spies everywhere so it's hard to lie to them effectively. That probably does get rid of the more obvious failure modes of a communist economy.
(If you just put the superintelligent AIs in charge of the top-level economic institutions and leave everything else to be run by the same dishonest and incompetent humans as normal, you're probably right that that wouldn't suffice.)
Actually, no, we're (at least, I am) talking about pre-Singularity situations were you still have to dig in the muck to grow crops and make metal shavings and sawdust to manufacture things.
Viliam said that the main problem with communism is that the people at the top are (a) incompetent; and (b) corrupt. I don't think that's true with respect to the economy. That is, I agree that communism leads to incompetent and corrupt people rising to the top, but that is not the primary reason why communist economy isn't well-functioning.
I think the primary reason is ... (read more)