I think it's more accurate to say it is a process that has resulted in our high standard of living faster than other processes... so far.
There is no guarantee it will keep working for the majority of us going forward; as is becoming very clear all around the world, it also has downsides especially without checks and balances (which was predicted and observed in the past, which is why other processes were conceptualized in the first place!)
As a trivial example, profit maximization is directly responsible for the enshittification we're seeing everywhere, which definitely is negatively impacting our standard of living.
There is no guarantee it will keep working for the majority of us going forward; as is becoming very clear all around the world, it also has downsides especially without checks and balances (which was predicted and observed in the past, which is why other processes were conceptualized in the first place!)
As a trivial example, profit maximization is directly responsible for the enshittification we're seeing everywhere, which definitely is negatively impacting our standard of living.