Well, if it's done like Lenin and Trotsky intended, i.e before Stalin bastardized it, and it's in keeping with Marx's original plan, then it would work just well. The concept of a council that the people elect from their neighbourhoods, to oversee the parliament, who have the power to impeach leaders. Leaders who serve the people's interests, and the profits equalliy devided by the workers, it would provide abundance for all.
Basically, imagine mass amounts of worker's cooperatives ;
http://el.wikipedia.org/wiki/%CE%95%...BC%CF%8C%CF%82