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
Fear animal look more impressive), sweating, increased blood glucose (hyperglycemia), increased serum calcium, increase in white blood cells called neutrophilic leukocytes, alertness leading to sleep disturbance and "butterflies in the stomach" (dyspepsia). This primitive mechanism may help an organism survive by either running away or fighting the danger. With the series of physiological changes, the consciousness realizes an emotion of fear. People develop specific fears as a result of learning. This has been studied in psychology as fear conditioning, beginning with John B. Watson's Little Albert experiment in 1920, which was inspired after observing a child with an irrational fear of