Does the concept of Capitalism increase the net wealth? I am currently going through a video by Peter Schiff from the occupy Wallstreet period where he is talking with the protestors at the time. I'm pretty early in the video and Mr. Schiff makes the following statement

&quot;The way a capitalist gets rich is by enriching everybody else&quot; - Schiff (4:21)

I take the above to mean that &quot;Capitalism increases the net wealth of everyone. This is something that I have personally heard before, but never looked into. So, I tried to google the following

Does capitalism cause a net increase in wealth

What I was looking for was essentially an Econ101 level explanation of possibly the argument for and against this but the different links that appeared were:

How Capitalism Actually Generates More Inequality - evonomics.com
Is Capitalism To Blame For Inequality? - inequality.org
ECONOMICS AND CAPITALISM - capitalism.com

Which all by their article or website name alone seem like they would be biased.
So I ultimately want to pose the question here in two points. Firstly, did I interpret Schiff's own quote properly? Secondly, what is the basic Econ 101 explanation for the above-bolded statement?
Here is a graph of labor productivity per hour for the United States since WWII.

This is fairly typical of capitalist economies. Even Karl Marx and revolutionary socialists recognize that increasing labor productivity is a general characteristic of capitalism. So yes, the pie keeps getting bigger and bigger as a result of this in combination with population growth.
The question of inequality is a somewhat separate one. If the whole pie is growing big enough, the absolute size of my slice can grown even if my relative share as a percentage of the whole is getting smaller. In other words, the total wealth of society keeps increasing, and so in absolute terms, even the poorest see some benefit. In relative terms, that gets more complicated.