It is a better idea to look at the trends.
By some measures we peaked in the 1970s, by other measures, such a electricity per capita, we have peaked more recently. Information technology continues to progress, but medicine is stagnating. China continues to progress by all reasonable measures, but the west is in both relative and absolute decline. It has been in relative decline since 1970, absolute decline recently.
The long term trends are moving up since the invention of the printing press. They really accelerated with the Industrial Revolution. Don't you agree that your life is better than your ancestors? All of them.
Most of them, not all of them. My parent's life was better.
The long term world trend is still upwards, People are building taller buildings than ever before, but not in the west. More people are getting cars, but in the west, the cars are humbler.
The most readily visible part of a civilization is cars and big buildings. The US built its biggest building in 1970 or so. Recently the two towers were taken down, and have not gone up again. Obama says “let them drive Priuses”. If the cool car is a Prius, people's lives are not better than their ancestors. When the cool car was a corvette, people's lives were better.