It's an interesting question. If we lived in a universe in which we weren't in fear of losing access to basic necessities of food, shelter, and healthcare, but had to work to have anything beyond those, what would happen? I don't truly know and I don't believe we have done the experiment anywhere. But I do know that the system we have not only produces innovative products but also corruption, oligopolies, and steamrolls over labor and the environment if not regulated.

I'm not naive enough to think communism is a magical answer (but Cuba is not some A/B experiment - the U.S. in particular has done a lot to make sure Cuba didn't succeed) - it ends up concentrating the wealth too. I would favor some form of democratic socialism, with leaders who can be kicked out if they abuse their power and limits on the influence of rich individuals and corporations.

On the latter, I think we forget that corporations are a legal construct intended to benefit society by allowing risk pooling - they are not people and should not be considered as such for things like free speech rights. Corporations should not be allowed to make political contributions in any way.