In the absence of monopolies, there's work for everyone. So, just about everyone works. Their exchange is close to, as opposed to far from, what they actually produce.

A workable economy is simple. People behave responsibly. Wealth is created and equitably distributed from the start; it doesn't need to be re-distributed because it was first distributed inequitably. Conditions get better for everyone.

Henry George analysed all of this to death over a hundred years ago. Who's Henry George? Exactly.