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Question: Did the Depression discredit the idea that social progress rested on the unrestrained pursuit of wealth!?
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The question you are asking simply put is: If the Depression was a result of the Stock Market Crash, did this make it unpopular to try to manipulate the Stock Market for instant wealth!? Yes!.
The Market crashed because people were buying stocks with money they did not have to invest!. Everybody was getting rich!. Everyone wanted in on it!. Investors started investing way beyond their means and with money they did not have!. When that all came tumbling down lots of people killed themselves, lost all their possessions, ended up in bread lines at homeless shelters!. So at that point, people realized that uncontrolled and unregulated investment was a bad idea!.
The problem today is similar!. People wrote loans on property for people who could not afford the payments, they made their commissions on the loans, sold the loans to investors, and when people could not make their payments, the investors ended up with bad investments!. This was due to the government allowing loan companies to act on their own and trust them to do the right thing for their own good and the good of the country!. They were greedy and did whatever they had to to make money--including making bad loans!.
Not everyone is smart enough to invest their money!. Not everyone can afford an expensive house even thought they want one!. The world of living on credit cards and with big loans is probably coming to an end!. We can only hope people are getting smarter!. Www@QuestionHome@Com
In some way yes but not completely!. What it did bring was more social awareness of problems like poverty, workers' rights and and social injustice like racism!. But the idea that being rich was the highest goal never went away!.Www@QuestionHome@Com
If anything, it amplified it!. People who went through the depression, who were suddenly 'have nots' redoubled their efforts to pursue wealth once the depression ended!. Www@QuestionHome@Com
It definitely made people question the idea!. Without it happening you wouldn't be receiving national insurance, unemployment benefits or state pensions as you 'should have considered that when deciding not to work harder'Www@QuestionHome@Com