The amount of people living in extreme poverty was 94% in 1820. In 1981, it was 44.3%. In 2015, 9.6%. This effect is entirely due to Capitalism. Perhaps wages in the West have stagnated because people in other countries deserve those better wages more? Just a hunch, no data to back that one up, except these statistics.
This incredible success in saving people from horrible conditions might not continue, but the recent history has been pretty great.