Price exists. Information that is embedded in the price, or, more precisely, in the myriad of market interactions that, among other things, also create the prices, however, is often lost. Or replaced with other information - e.g. who has a the better lobbyist or can negotiate with the government officials more efficiently. Also, it seems that you are implying there's a single "way it works in developed countries" - if you do, you are seriously mistaken, there are a wide variety of ways and each one has its own set of issues.