In our civilized societies we are rich. Why then are the many poor? Why this painful drudgery for the masses? Why, even to the best-paid workman, this uncertainty for the morrow, in the midst of all the wealth inherited from the past, and in spite of the powerful means of production, which could ensure comfort to all, in return for a few hours daily toil? - Peter Kropotkin (1892)
Our system is so wasteful that we pproduce about 3x more than what we would need in order for every person on earth to have a "middle class" first world lifestyle. The system is even incredibly wasteful beyond that and throws away most produce, because it isn't profitable to sell, it ends up in a landfill.
Check out this blog by anthropologist and degrowth luminary, Jackson Hickel https://www.jasonhickel.org/blog/2018/10/27/degrowth-a-call-for-radical-abundance