No, you have one generation of people who have suffered from external causes, not a series of generations who have repeatedly had their economic gains destroyed.

At some point, the goal stops being growth and turns to survival.

I know the real world is full of complications but there is one historic counter example which immediately comes to mind - Jewish people. They have a way long history where only having their economic gains destroyed would qualify as fortunate and was essentially a baseline with only Christians having inheritance. For over a millenium no less.

This isn't a "model minority good/underperforming ones deserve their suffering" sort of one but to point out that just repeated gain destruction and even discrimination and stigma aren't foregone doom.

The Jews were still allowed to do certain jobs. They certainly weren't the lowest paid jobs, with crappy education forced upon them. I am not aware that the Jews were enslaved for multiple generations while being denied education and cultural retention.