Does the lost of color have something to do with the moment in wich we live?

I've recently been reading a lot of articles and seeing a lot of videos speaking about the "new" colour of the year of Pantone, which is named "Cloud Dancer" that is basically a tonallity of white. Reading about it I've found that a lot of people find a relation of the use of the colour with the time we are living in. 

Just like this, it has been found a relation between clothes and the socio-economic moment in history, seeing for example wider clothes in women fashion during the 20', a time known because of it's "liberty". We can also see examples such as the "skirt theorie" wich says that in crisis moments the women's skirts use to get longer. A part from the clothing aspect we can see a certain way of acting in moment of crisis or when certain politics start to grow, this is reflected in masses wanting to reflect in the past and go back to the traditional values. This may not be a 100% proved cience, however we can see certain patterns in the way people dress or even act depending on the time. 

So, we could say that is the people's way of acting and dressing that changes, but art does so, architecture and art is also cyclical, and behaves the same way that people, in certains moment of history art wants to look back in the past, just like the Neoclassical arquitecture with the classics, or Baroque with middle ages, and in other moments, it wants to break everything stablished, just like impressionism or Bauhaus arquitecture.

Arriving to this point, I finally ask my initial question, Is the use of colour related to the economic /social/ historical moment we are living? My basis in this question is that the less colour we use as a society, in a more conservative/ crisis moment we are. And even though this is not something that has to do with colour in base being politic, but the politics being associated with one colour. 

An example of this can be the evolution of Bauhaus school image, the first years we can see how the school was colourful and open to innovation and progression, however, while the time advanced we can see the nazis have more and more power and the school loosing strength in it's progression and specially colour. 

This may not be the only example, but is the one I can see it more obviously. Nowadays, we can also see a lost of colour and a tendency for extreme minimalism, things that may not be inherently politic but maybe they have to do with the politic situation we are living, with extrem conservative and fascist parties are taking power.

So that's it, hope you like it or smth...