I suppose that a lot of economic activity isn't really essential and can be shut down without problems. E.g., cruise ships no longer sailing, or making gold watches. Lack of these kinds of goods and services is unlikely to do any damage to cognitive functions.
It would be interesting to refine "poverty" to identify exactly what the minimum healthy level of "consumption" for a typical human is going to be. It doesn't seem to me that it's very high: food, clean water, safe housing, a bit of electricity for cooking etc., and ideally connectivity to the wider world, e.g., a computer with an internet connection. I suppose you could say that that's actually quite a lot, and brings you up to Western industrial society standards. But I suspect that with an industrial economy, all of that can be provided to the entire population with relatively little effort, e.g., if people were working a couple of days a week.
Any medical requirements would be on top of that of course.