say it: LOO-nuh-see
lunacy is a noun meaning "obsolete terms for legal insanity". It carries 2 recorded senses.
obsolete terms for legal insanity
foolish or senseless behavior
Forms marked · are formed by the regular rule rather than recorded in the source data. English keeps a few hundred irregulars and the rest follow the pattern, so the rule is right far more often than not — but it is a rule, and the mark says so.
Definitions, synonyms and semantic relations for lunacy come from Princeton University’s WordNet. The pronunciation comes from the CMU Pronouncing Dictionary. Commonness is measured against a corpus of everyday English. Full sources and licences.