At least for a while. Question is if it could have kept working well long term, considering it still was a variant of Socialism economically?
And the end point of the economic Gleichschaltung would have been little different from a typical Communist planned economy, where all major businesses and industries would have been under control and ownership of the government and its cronies.
Problem with socialist systems is, that their extensive social programs and wealth redistribution tend to be very expensive, but their economic growth and value generation cannot really keep up with the mounting expenses, unless they plunder someone else's wealth for it. They work somewhat for alleviating immediate mass poverty and decreasing socioeconomic imbalances, but fail in securing long term growth and prosperity.
Of course this were the Germans, which of all people probably had the greatest potential of making the unworkable work somehow.
But it's only speculative in which direction Hitler or his successor would have taken the Third Reich and it's economy in the end.