Depends what you mean by "workable". Given enough impetus, virtually anything can be made "workable", even by Austrian corporals.
My objection is not a utilitarian one, but on principle:
Government's job is to protect and vindicate citizens' lives and rights against those who threaten or violate them by force or fraud. To perform that task, Caesar uniquely exercises the power of the sword.
It is NOT the job of Caesar to become engaged in commercial ventures in competition with citizens. The State already possesses a monopoly on the legal use of force. To also place economic power in its hand is too great a concentration of power. Further, because the third prong of the State's trident is judicial, how can Caesar impartially judge in commercial disputes when he himself is a player in business?
Sorry, but your proposal would result in a further distortion of the political economy. It's already bad, and I can't go with more fuel on the furnace. Too much pollution. It would further blight an already blighted political landscape.