I'm not sure that going in this direction is fruitful since my question was really a rhetorical one.

I cannot imagine how we would be able to have any sort of institution/entity/dictator in charge that optimizes for what is morally good and ensures material abundance without ever failing.

I'd also state that this line of thought is based on a hidden premise: do you think we can, as mankind, define a set of objective values and goals to be pursued? The question of how to then pursue these is necessarily secondary