To the initial question...
I think we could... maybe. But getting there wouldn't be easy (I for one would fight it all the way), and retaining that type of government, especially on a world wide scale, over the long term doesn't seem very likely. As Always Greener said, people are often motivated by their own self-interests. I'd take that statement a bit further, in that people are always motivated by self-interest, but that human trait is sometimes more subtle, under the range of most peoples perceptions.
That's why I believe in capitalism, personally, in accomadates mans nature better than other economic systems seem to.
My thoughts :)