The quality or state of being foolish; a foolish or silly act.
A variant form of 'desipience,' using the Latin suffix '-cy' instead of '-ence.' Both forms mean the same thing and entered English during the Renaissance when scholars borrowed directly from Latin.
English has so many ways to say 'foolishness'—'desipience' and 'desipiency' are the fancy Latin twins, while we also have Germanic cousins like 'folly' and 'foolishness.' The more formal the word, the older its roots!
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