Yes it would, but it would require many other changes to our economy and society as well.
The main purpose I see would be to provide for everyone’s essential needs. So those need to be available to everyone through some combination of making them free or very affordable (and making them not free to for-profit corporations, so for example Nestle` gives up on its evil plan to take all our water to sell it to us), and/or providing a basic income that allows people to live without needing to be employed or criminal or suffering.
The main obstacles are ideas that plague modern economic thinking about scarcity and how there isn’t enough for everyone, all the nasty shaming conversations, and glorifying unlimited greed for the sake of corporations and investors, bankers, the fear that no one will want to work, etc. All-for-infinite-profit corporations also need to be prevented from corrupting our governments and screwing things up, e.g. GMO food corporations trying to own all the food, or gas companies doing things that destroy our environment.