Word: technocratic
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Dates: during 1990-1990
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...professor introduced a concept that measured the time -- often a matter of milliseconds -- that public figures spend thinking of matters unrelated to themselves. The new novel, his third, explores the equally valuable IRAT, or Index of Irrational Expectations, a quantification of the collective wrongheadedness of the stock market. Harvard technocrat Montgomery Marvin, known for his seminal study of refrigerator pricing, invents IRAT and becomes exceedingly rich. He thus affronts the self-satisfied Cambridge community, where "no one has ever been known to repeat what he or she has heard at a party, only what he or she has said." This...