Time is supposed to have a relatively consistent meaning, and we jump through a lot of hoops to give it an inconsistent meaning. Schedules are much more fluid and easy to change with little external side-effects.
People will need to learn to partially decouple their routine from the numbers on the clock, but that seems like a much simpler/cheaper problem to solve than our current time mess.
Technically we could all do that now anyway, just start using GMT rather than our local timezone :)
We basically had a summer and winter timetable.
I wonder what the psychological differences would be if daylight saving was abandoned and whether there might be a real economic impact. I spent quite a bit of time up in the Pacific NW of the USA and a sunny day in February lifted everybodies spirits. I hesitate to say that the work that got done was better but certainly the mood at work was a lot more congenial.
Where I live, in winter, without daylight saving it would be dark until 9.30am or after in the mornings, meaning all the kids need to go to school in the dark, which is more dangerous.
Then at the peak of summer, it would probably still be daylight until close to midnight.
The closer you are to the equator, the less swing there is between the number of hours of daylight between summer and winter. Even between the very north of the UK and the very south there is an appreciable difference.