The greater fool is actually an economic term. The greater fool is a patsy. For the rest of us to profit, we need a greater fool, someone who will buy long and sell short. Most people spend their lives trying not to be the greater fool; we toss him the hot potato, we dive for his seat when the music stops. The greater fool is someone with the perfect blend of self-delusion and ego to think that he can succeed where others have failed. This whole country was made by greater fools.