patrick.net

From a quality of life perspective, you are absolutely right.
But from an economic perspective, it does add to end demand.
Not only that, but if you are counting on a workforce made of semi-slave labor earning less than $2/day to answer that added demand... well that bucket lost 40% of its content in 10 yrs. So the supply part of the equation on the labor market is going away.

Perhaps, economy is irrelevant since quality of life has been increasing. May be in future, only one person out of a family/extended family of 10 need to work. You're either damn good or unemployable because robots and AI do the job better.

Strategist says

There is no doubt more and more of the world's poorest are climbing out of poverty.

My friends, the future is bright.

Yes it can be very good. Wages could go up, diluting past debts.
Of course that would cause rates to go up, destroying prices of things bought on cheap credit today (like houses).
Essentially that would mean price inflation will move from assets to groceries and manufactured items.