One of the most damaging elements of the American psyche or ethos is the myth of rugged individualism tied to Horatio Alger "pull yourself up by your bootstraps" mythology! Oddly, the whole "pull yourself up by your bootstraps" was originally satire on the "making it on your own" myth but somehow became the metaphor for just that.
As to the Great Depression and numerous other recessions and financial panics, nearly ALL can be attributed to speculations and often Wall Street greed. A mentality of deregulation pervades the nation encouraged by lobbyists to congress when addressing these issues.
One of the most damaging elements of the American psyche or ethos is the myth of rugged individualism tied to Horatio Alger "pull yourself up by your bootstraps" mythology! Oddly, the whole "pull yourself up by your bootstraps" was originally satire on the "making it on your own" myth but somehow became the metaphor for just that.
As to the Great Depression and numerous other recessions and financial panics, nearly ALL can be attributed to speculations and often Wall Street greed. A mentality of deregulation pervades the nation encouraged by lobbyists to congress when addressing these issues.