craze

A craze, in sociology, refers to a collective obsession characterized by a rapid increase in the popularity and intensity of a specific behavior or belief. These behaviors are often seen as irrational or even harmful by those not participating. Crazes can manifest in various forms, including fads, fashions, and financial speculation, such as the South Sea Bubble.1

Examples of crazes include widespread interest in figures like Michael Jackson or Pelé, where fans idolize and mimic aspects of their lives. In finance, a craze can occur when the value of assets like land or stock is driven far above its intrinsic worth through speculation, creating an economic boom. Historically, even dances like the waltz were once considered a craze, facing moral objections and bans before becoming mainstream. These collective obsessions typically peak and then abruptly decline, sometimes followed by a counter-obsession.12