gallbraith
A gallbraith is a sharp pain in the gall-bladder experienced by somebody reading some of the work of J.K.Galbraith who suddenly realises that what he was saying a long time ago about economic bubbles is still achingly relevant today, thus raising profound questions about the ability of human beings to learn lessons from past experiences.
"Ouch! Brad, I just experienced a massive gallbraith when I realised that contemporary financial innovation involves a debt leveraged against more limited assets, just like it did in the past!"
"Gosh! Hermann, it just occurred to me that one of the problems in the rise of a bubble is that the people who see it coming are treated as imbeciles as a result of the Cassandra effect! What a massive gallbraith!"
Ludovic woke up on 1st October 2007 and had a full-force gallbraith when he realised that everybody was about to start blaming marginal things outside the market for the failures of the market itself.
"Gosh! Hermann, it just occurred to me that one of the problems in the rise of a bubble is that the people who see it coming are treated as imbeciles as a result of the Cassandra effect! What a massive gallbraith!"
Ludovic woke up on 1st October 2007 and had a full-force gallbraith when he realised that everybody was about to start blaming marginal things outside the market for the failures of the market itself.