I'm guessing that theory came to him after listening to 'Imagine' (John Lennon's ode to idiocy, hypocrisy, and self- righteousness) while strung out on acid.
His philosophy (Which he calls "Progressive," but sounds more like the opposite, like something that would move us backwards in pretty much every way) would go completely against everything the Founding Fathers stood for when they helped found this great nation of ours. Then again, he and his fellow DUmmies would probably see that as a plus.
Based on the ridiculous conditions of his little would- be utopia (i.e. All countries would supposedly be disbanded, yet there'd somehow be enough of a government control over things to dictate his idea of an "Hours"- based economy), I'm guessing one of two systems would form from it:
1. A completely oppressive, tyrannical government to regulate those conditions, having total control over every aspect of a person's life from cradle to grave.
2. A societal collapse which will lead to sheer anarchy and basically propel us back to either the Dark Ages or the Stone Age.