In prehistory, land was plentiful and hunting/gathering skill was scarce, so MVLE was high. In the middle ages, the population had exploded and arable land had become scarce. MVLE dropped dramatically. In the industrial revolution, capital accumulation began, and MVLE began rising. Once labor costs were high enough, productivity became king, and services and information goods became more prominent. MVLE rose much further.
Note the seemingly accidental correlation between MVLE, self-determination and human rights.
Now we're at a crossroads. There's a possibility that MVLE might completely bottom out. One edge outcome is a world with 100 trillionaires, 1000000 concubines, a bunch of butlers and hair stylists, and no other humans.
The key question is: whose utility will be maximized? It's clear that democracy's cracks have turned into fractures. Half of the population has an IQ below 100 and can be gulled into voting themselves into oblivion.