Are you saying that as of October 2006 humankind is not experiencing rapid increase in material wellbeing?
A rapid increase in material well being is occurring among a select portion of the planet's population. Among another select portion material well being is declining. On average? difficult to say, but it sure isn't as rosy as you seem to think.

And of course, there is the question of whether or not the measures of material well being we can make are indicative of people's lives.

And then there is the most important issue, which is whether or not material well being is even what we should be concerned with (beyond basic lving standards).