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
Culture of fear that perceptions of risk, ideas about safety and controversies over health, the environment and technology have little to do with science or empirical evidence. Rather, they are shaped by cultural assumptions about human vulnerability. Furedi say that "we need a grown-up discussion about our post-September 11 world, based on a reasoned evaluation of all the available evidence rather than on irrational fears for the future. British academics Gabe Mythen and Sandra Walklate argue that following terrorist attacks in New York, the Pentagon, Madrid, and London, government agencies developed a discourse of "new terrorism" in a cultural climate of fear and