Extreme poverty has halved in the last 20 years, 2000 is hardly medieval, in fact the dismissal of those in extreme poverty around the world like that is a major obstacle in continuing to improve global conditions for the most poor. Source on global extreme poverty increasing to 20th century levels during the pandemic?

Edit:

You are right that there was an increase, my mistake, of about 1.5 percentage points from 8.4 percent of the world population to 9.9 percent living in extreme poverty.

This is a massive tragedy to those 140 million people, and I don’t want to minimize that. That being said, you hugely overstated the matter, and the increase in poverty regressed us to 2016, not 1922.

With the global resurgence and reopening of international free trade following the pandemic progress will be able to resume and continue towards the goal of 5% by 2030. Over 1/2 of those living in extreme poverty live in just a handful of nations, so focusing aid and development projects on those nations should allow the efforts of organizations working in this field to continue to save lives and reduce human suffering.

I would encourage you to learn anything at all about actual policies that can be supported to reduce world poverty. While simple ideological dogma can be tempting and comforting, doing real work to help real people is complicated and difficult, and requires complicated solutions. Champagne Socialists can rail against institutions for being imperfect all they want, they are imperfect, but I am more impressed by the people who work hard to improve lives as effectively as they can regardless of imperfect circumstances, who don’t let ideals become the enemy of progress.