As it comes to what works, the whole challenge is that there's no simple answer.
You can easily say that what they have in the US doesn't work in the long run. You can say USSR did not work in the long run either. But what works?
On high level we know that large inequality is bad, but some inequality is unavoidable. How much exactly, it depends. It's a classic multivariate problem that cannot be solved once and needs a flexible, evidence-based approach.