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Sociologists Have Often Wondered About Financial Collapses, Like Those of the 1930s

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Sociologists have often wondered about financial collapses, like those of the 1930s, in which rumors of insolvency, when believed by enough depositors, resulted in bank failures. What sociological concept describes this phenomenon?


Definitions:

Joining Ancestors

A phrase often used to describe the death of an individual, suggesting they have reunited with deceased family members in the afterlife.

Ulithi

An atoll in the Caroline Islands of the western Pacific Ocean, known for its strategic location and cultural significance.

Temporal Interpretations

Approaches to understanding concepts, events, or phenomena in relation to time, including historical context and changes over periods.

Empirical

Based on, concerned with, or verifiable by observation or experience rather than theory or pure logic.

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