The long march of the bezzle

The world of economics is indebted to JK Galbraith, author of The Great Crash 1929, for his coinage, the bezzle.

“To the economist embezzlement is the most interesting of crimes. Alone among the various forms of larceny it has a time parameter. Weeks, months, or years may elapse between the commission of the crime and its discovery. (This is a period, incidentally, when the embezzler has his gain and the man who has been embezzled, oddly enough, feels no loss. There is a net increase in psychic wealth.)”

The long march of the bezzle