As [Jason] Hickel also points out about the earlier parts of the graph, and as I have pointed out previously, most of “people are making more money” comes from “people were forced off their subsistence farms so that they had to use money to buy what they got from their own labor before.”
People miss the essential point: it’s not how much money you have. It’s whether or not you have enough food, shelter, clothes and so on. It’s whether you have what you need and some of what you want.
Ian Welsh on money.