Seward's Folly, also known as the Alaska Purchase, is a term coined by journalists in the late 19th century to describe the United States' acquisition of Alaska from Russia for $7.2 million in 1867. This term became popular because many people believed that the purchase was a waste of money and resources. Since then, Seward's Folly has become a synonym for any decision or action that is perceived as foolish or ill-advised. Some other synonyms for Seward's Folly include a blunder, a mistake, a gaffe, a misstep, an error, and a miscalculation. These words all imply a lack of judgment or caution and are often used to criticize someone or something that has made a poor decision.