That's a meaningless platitude of socialist one-worlders, and has no more meaning in the real world than "give peace a chance."
Something that is the "property of everyone" is in reality the property of no one, and inevitably decays into derilicition.
The Tragedy of the Commons - "The 'logic of the commons' ultimately produces its ruin as well as the demise of those who depend upon it for survival."
On the other hand, everyone getting a regular oil revenue check seems to work fairly well in Alaska.