[normalfaults]

I wonder if there is an economic/academic term for this? Vicious Cycle?

[interdocken]

Perhaps: https://en.wikipedia.org/wiki/Deadlock#Livelock

[idorosen]

Tragedy of the commons?

[ruytlm]

Feedback loops and vicious cycles are more accurate, I'd say: https://en.wikipedia.org/wiki/Virtuous_circle_and_vicious_ci...

Also if anyone's interested, the article I was referring to is this: http://www.mauldineconomics.com/the-10th-man/black-monday