Would someone be able to enlighten me on what the cons of a hypothetical situation in which everyone on the planet decides to temporarily get rid of the concept of money or currency, and pool our collective resources and ideas without worrying about who owes who? I mean on paper it sounds great, and obviously this is extremely hypothetical as it's virtually impossible to get all human life on Earth to actually do that, but are there hidden cons here that I'm not really seeing?

I've not really gone into too much thought on this, it was mostly a fleeting thought, and I was curious what others thought.