Taking you literally, I don't think that's possible. Social punishment (in the form of shunning, boycotts, "cancelling", etc) has been around as long as human society has existed and is incredibly popular.
If someone figures out how to reliably solve that, a few nobel prizes are probably awaiting them.
If you want to take a subset of this problem, maybe it's possible: Like if you mean corporations specifically, not all private actors.
True. There’s a reasonable argument[1] that such things should continue to exist. The strongest way of phrasing it, I think, is that we do not want to have to pass a law against being an arsehole, nor do we actually want the letter of such a law enforced with the full might of the state, but there still needs to be some way of punishing it. The only counterpoint here is, I think, that the severity of such punishments seems to be vastly underestimated.
(If you’re going to refer to ancient societies, many of them used or accepted such a punishment as a substitute for the death penalty, as for instance with the Roman custom of permitting voluntary exile before conviction. And that still in a world where you could travel a few hundred kilometers in the right direction and reasonably expect nobody to ever learn of your sins.)
Also beside the point, however. The question is not whether we should shun people (we should, with a fair few qualifications), but whether such penalties should be levied for words. I posit that no, for an overwhelming majority of words they shouldn’t, where the possible exceptions are somewhere around ongoing mass murder and the Milles Collines[2]; and that letting your opponents speak and listening to them should by default be virtuous, socially rewarded behaviour.
[1] https://dynomight.net/bad/
[2] https://en.wikipedia.org/wiki/Radio_T%C3%A9l%C3%A9vision_Lib...
I suppose I disagree: Modern forms of this ("cancelling") are well-aware of the economic impact it can have on individuals, and indeed often this is the intended outcome. People on all sides of the political spectrum here understand the impact of impoverishment and homelessness (though they obviously disagree on what should be done about it).
> The question is not whether we should shun people (we should, with a fair few qualifications), but whether such penalties should be levied for words
I don't see how you ever disentangle these two. For a large part of the populace, there are some combinations of words they will find abhorrent and want to punish. The exact nature of that punishment is up for debate, but we've largely settled on the status quo here.
If you can find some way to keep people from wanting to punish some subset of words universally then congratulations, a few nobel prizes are indeed yours.