Since this is a discussion only what is plausible and feasible is not valuable at this time. What ideas we develop here will be beyond these. It would limit us to a smaller view than the one desired by this discussion.
In looking at a new economic model it is important that it provide the basic needs of all Earthlings. These being food, water, shelter and medical care. Next is the need to consider something different than the current economic systems that exist around the planet. This means creating a new way of producing, distributing and consuming goods and resources.
The major economic systems are capitalism and communism. One can argue that capitalism is the major economic system as communism has merged with it. Most communistic countries now participate in the capitalistic economic structure. The only difference is that most are totalitarian and not democratic governments.
True communism, socialism, has never been implemented anywhere. All communistic countries are totalitarian governments in which those in power reap the most from the many. True communism as envisioned by Karl Marx and Friedrich Engels has never been successfully implemented. For further information you can see the basis of their thoughts on Wikipedia.
How far are we as Earthling willing to go to figure out a new way to produce, distribute and consume goods and resources? How do we move past the comfort of what already exists to something new?
Change in any form is always difficult because it means moving out of our comfort zone. Especially when we are called to do something different with unknown consequences. Yet we as Earthlings have always in one way or another faced change. It is the only constant in all of our lives.
So all of this being said lets see what can be done to define a new economic system. Something totally different than what exists now. Yet gives every Earthling the most important things they need and those that also enhance our lives in some way.
Production of goods and services seems like a start. The question here is do we produced everything that we do currently? What needs to be produced to satisfy the basic needs of all Earthlings. So much of what is produced now is based on needs or desires created by those who wish to make money from these things.
This does not mean that everything produced is bad or cannot be used. It means that what is produced needs to be looked at differently. Of everything we produce now what are the things that provides for the basic needs of all Earthlings? What enhances the lives of Earthlings that makes them better?
So this is a start for discussing how to change the current economic system. I hope that you will respond with comments and ideas so that we can all design the this new economic system together. Please do respond. Only through our interaction can we think outside the box to a better way of living as Earthlings on our planet.