I want to know the answer to the following question:
What is it called when too many consumers attempt to save or pay down debt at the same time?
All the background I'm provided with is that "Behavior that may be optimal for an individual (e.g., saving more during adverse economic conditions) can be detrimental if too many individuals pursue the same behavior, as ultimately one person's consumption is another person's income.". Is that enough to answer the question?
Answer: no