Irrational exuberance Pink also used the phrase in 2009 in his book "" in the chapter discussing how extrinsic motivation can encourage short-term thinking at the cost of long-term health: "This is the nature of economic bubbles: What seems to be irrational exuberance is ultimately a bad case of extrinsically motivated myopia". Irrational exuberance "Irrational exuberance" is a phrase used by the then-Federal Reserve Board chairman, Alan Greenspan, in a speech given at the American Enterprise Institute during the dot-com bubble of the 1990s. The phrase was interpreted as a warning that the market might be overvalued. Greenspan's comment was made during
Proof that π is irrational In 1761, Lambert proved that is irrational by first showing that this continued fraction expansion holds: Then Lambert proved that if "x" is non-zero and rational then this expression must be irrational. Since tan(/4) = 1, it follows that /4 is irrational and therefore that is irrational. A simplification of Lambert's proof is given below. This proof uses the characterization of as the smallest positive number whose half is a zero of the cosine function and it actually proves that is irrational. As in many proofs of irrationality, the argument proceeds by reductio ad absurdum. Consider the sequences ("A") and