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Why Bank Runs Happen—and What We Can Do to Stop the Panic
Why Bank Runs Happen—and What We Can Do to Stop the Panic
Customers line up to retrieve their funds from Silicon Valley Bank on March 13 after its sudden and epic collapse. (Justin Sullivan via Getty Images)
Human beings stampede. We always have. But technology has taken our ancient impulses and put them on warp speed.
By Luke Burgis
03.14.23
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The Free Press
The Free Press
Why Bank Runs Happen—and What We Can Do to Stop the Panic
“It turned out that one of the biggest risks to our business model was catering to a very tightly knit group of investors who exhibit herd-like mentalities.” — Silicon Valley Bank senior executive

You are allowed to yell “fire!” in a crowded theater. Contrary to a popular myth, there is no U.S. law stopping you. 

This past weekend, in our 21st-century the…

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Luke Burgis
Luke Burgis is the Founder & Director of the Cluny Institute, publisher of the Cluny Journal, and author of the bestselling book Wanting. He writes the Luke Burgis Newsletter on Substack. His forthcoming book, The One and the Ninety-Nine, will be published by St. Martin’s Press in 2026.
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Economics
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