Niall Ferguson, in "The Great Degeneration," highlights the socially regressive nature of certain economies, emphasizing that low wages persist in stagnant societies. He argues that even if a country's overall wealth appears considerable, prolonged economic stagnation keeps labor wages low. This situation indicates an absence of progressive growth that typically benefits workers.

Ferguson reflects on how societal advancement correlates with the improvement of the laboring class's condition. He believes that it's during times of economic progression, rather than after wealth accumulation, that the plight of the majority tends to improve significantly.