No I haven't read Banks, but it certainly sounds interesting. Even in our current society though, if economies were organized in such a way as to put the priority on basic human needs and desires for everyone, rather than profit and power for a few, we could improve the quality of life of a great many people. The big question is, how to get there? Chicago school free market capitalism works very well for some people. Those people obviously have a strong interest in maintaining and promoting the system. Those are also the people who own virtually all the newspapers and TV stations. If they can convince Joe Sixpack who works for minimum wage and has no health insurance that the current economic system is also the best system for him, and in fact the only viable system, then they've got it made (at least until they screw up the economy so badly that Joe Sixpack gets angry and gets out his pitchfork).
This in my opinion is one of the biggest obstacles to progress. Our culture, our attitude, our whole way of thinking is deliberately shaped and influenced by those wielding power and/or wealth in any given political system - whether it be religious leaders, Soviet propagandists, or free market capitalists. Democracy isn't immune from this, nor is democracy immune from electing leaders who commit atrocities. Therefore, I don't accept Jemy's view that democracy is the ultimate ideal to strive for. I think it was Prime Junta (or possible Brother None) who in an earlier thread pointed out the need to make a distinction between democracy and culture. For me, the culture of a society (the values it espouses) is just as important and perhaps moreso than democracy itself.
So, as far as I'm concerned, the foundations of any system should be built first and foremost on human rights and needs - freedom of expression, justice, racial tolerance, the right to food, shelter medical care etc. Whether that system is a democracy, a benign dictatorship, or some form of anarchist communalism, the litmus test should always be basic human rights and quality of life for the population as a whole.