I think it is slightly more complex - it is far cheaper to medicate people than deal with the underlying problems through social interventions and psychological interventions (like CBT). This means that they are often pushed as the complete solution when they are not. Obviously the drug companies love that.
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Agreed, problems are always more complex than they seem... This is an excellent video that shows the trend away from therapy toward medication. It's long but very complete.
I know you were talking about depression specifically, but it's covered in here.