>Our current economic system has consistently lifted large numbers of people out of poverty historically, and is still doing it today.

Debatable.

https://www.pnas.org/doi/10.1073/pnas.2316730121

>We should at least give it a go for seven more generations.

Are you being sarcastic? Underclasses and the declining classes are both on the verge of revolt. Seven generations of status quo won’t occur. That’s a fantasy of someone who does not understand the problems severity.