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President Benson referred to this Book of Mormon people as a fallen people when delivering his frequently recounted talk "Beware of Pride" during the April 1989 conference.
Who are the Nephites?
The Doctrine and Covenants tells us that the Book of Mormon is the “record of a fallen people.” (D&C 20:9.) Why did they fall? This is one of the major messages of the Book of Mormon. Mormon gives the answer in the closing chapters of the book in these words: “Behold, the pride of this nation, or the people of the Nephites, hath proven their destruction.” (Moro. 8:27.) And then, lest we miss that momentous Book of Mormon message from that fallen people, the Lord warns us in the Doctrine and Covenants, “Beware of pride, lest ye become as the Nephites of old.” (D&C 38:39.)