I've given it a LOT of thought over the years and I can't see how it could work. The idea that gets repeated throughout all the series is that Humanity [now] works to better itself instead of the selfish and materialistic desires of the individual. Recognition is determined more with deeds and actions than with accumulation of wealth.
There will always be terrible and shitty jobs.
Only the elite become Starfleet Officers or a Federation Delegate/Associate. There are about 10 billion Humans on Earth alone during this time. Who's signing up for the sewage jobs? Or the many other jobs that are unpleasant by nature, without getting paid? Automation sure, but look how much repair the Enterprise needs on a daily basis lol!
I think the Ferengi said it best to Cpt. Archer when he said greed wouldn't have torn Humanity apart if we managed our businesses better. LOL
So yeah, I'm a Trekkie. . .