This sounds like an incredibly difficult
Most governments eventually fail no matter what ideology they employ, this is true of capitalist, communistic and everything else. Yes governments are incredibly difficult to do successful. No argument there.
I for one don’t see a way to achieve it without outright abolishing private property as we know it.
Its been done, and those governments have all failed too. Even when they are democratic they have literally been voted out of existance by the massive starvation it tends to result in.
So we have very clear proof that simply enacting such a policy in a government system will absolutely not be a magic fix for these ills.