A rare or historical term referring to the practice, condition, or ideology associated with bankruptcy or financial ruin (very uncommon usage).
From 'bankrupt' plus the suffix '-ism' (indicating a system, practice, or ideology), following the pattern of English word formation; likely a specialized or archaic philosophical term.
This obscure word reminds us that English speakers once tried to make '-ism' terms for almost every concept—'bankruptism' never caught on because 'bankruptcy' was already perfectly clear!
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