As somebody with a degree in economics who did research in this area, I strongly disagree. I cannot stress how important is to not equate poverty data with quality of life. Let me give you an example of how economic statistics can be misleading. In colonial India, economic production and GDP skyrocketed. Forests were razed, waterways were privatized, communal granaries were destroyed, etc. Agricultural production increased massively, yet hundreds of millions of Indian people starved and died.

It is absolutely not clear-cut that poverty has actually decreased on a long term scale. The real wage evidence shows less poverty and higher incomes during precolonial times in several countries. The datasets are woefully incomplete and flawed prior to 1900. Furthermore, the global poverty line is still set at $1.90 (!), and reexaming the decrease in poverty using more realistic costs of living results in very little change. Compounding on that, the vast majority of poverty reduction in the last century has been in China, a non-capitalist country. Removing them from the dataset results in almost no change in global poverty in the last 50 years. I can go on.