Tell me what system without the capitalist IP system actually innovated faster/better. I only find a lot of failed attempts.
Maybe monetary incentives are important for innovation. And I don't think it's perfect at all, but abolishing it also seems a bit rich.
Nowadays almost all new programming languages are open-source, and *nix OS softwares have won the cultural battle over Windows in the devops community.
What does that proof? You can't pretend that this would work universally.