At the moment, there's really no way of being sure one way or the other.
We'd have to set in motion a group of experts determining exactly what is needed for each individual human being, and then we'd have to determine if that's feasible to provide with the current level of population.
If feasible, we'd then need to figure out how to distribute resources and relocate everyone in such a way that they could live as needed.
A planned economy, eh? Been there, done that, got the hip flask. Didn't work.
We'd most likely need automation in a very big way, so a ton of research into robotics and self-reliant machinery would have to be initiated.
Like, even more than is being done now? Automation has already eliminated almost all of our industrial production jobs, and is set to eliminate even more. However, the result has been increased concentration of wealth, not increased distribution. To change that, you would have to socialize the means of production.
Oh, wait, that's been tried too. Didn't work.
It would take A LOT of people doing extensive work for many years, before we could even begin to put anything into practice.
Would three-quarters of a century be about enough, or are you talking even more? Like, 1917 to 1991?
But is it worth the try? I think so.
*Another* try, you mean. Yes, it would be, *IF* you can first demonstrate that you've resolved the problems that caused Communist systems to fail ever since they were first tried some 300 years ago.
Will it happen? Probably not for hundreds, if not thousands of years. Too many people would have to give up the illusion of true wealth - and those people happen to be the ones in power.
Amend that, *certainly* won't happen, until and unless we manage to completely overcome the problem of scarcity—IOW, we invent a technological genie that will let anyone have anything they want just by wishing for it. Then, Communism would be possible. However, given the constraints of the physical universe in which we live, I'm not at all convinced that this constraint will ever be lifted. Until then, it is far more productive to try to resolve problems related to the messy world we're living in.
IOW, the social engineering you're proposing is just like a bridge engineer who designs a bridge based on the assumption that someone invents a form of steel that's infinitely strong per unit of weight. I bet you could design some pretty fantastic bridges with that kind of steel, but it will do fuck-all to help us build actual, real bridges with the kind of steel we actually, really have.