Virtuous Circle And Vicious Circle
A virtuous circle and a vicious circle (also referred to as virtuous cycle and vicious cycle) are economic terms. They refer to a complex chain of events that reinforces itself through a feedback loop. A virtuous circle has favorable results, while a vicious circle has detrimental results.
Both circles are complexes of events with no tendency towards equilibrium (at least in the short run). Both systems of events have feedback loops in which each iteration of the cycle reinforces the previous one (positive feedback). These cycles will continue in the direction of their momentum until an external factor intervenes and breaks the cycle. The prefix "hyper-" is sometimes used to describe these cycles if they are extreme. The best-known example of a vicious circle is hyperinflation.
Read more about Virtuous Circle And Vicious Circle: Vicious Circles in The Subprime Mortgage Crisis, Other Examples
Famous quotes containing the words virtuous, circle and/or vicious:
“As for the virtuous poor, one can pity them, of course, but one cannot possibly admire them. They have made private terms with the enemy, and sold their birthright for very bad pottage. They must also be extraordinarily stupid.”
—Oscar Wilde (1854–1900)
“Wise child, didst hastily return
And mad’st thy mother’s womb thine urn.
How summed a circle didst thou leave mankind
Of deepest lore, could we the center find!”
—Ben Jonson (1572–1637)
“The hardiest skeptic who has seen a horse broken, a pointer trained, or has visited a menagerie or the exhibition of the Industrious Fleas, will not deny the validity of education. “A boy,” says Plato, “is the most vicious of all beasts;” and in the same spirit the old English poet Gascoigne says, “A boy is better unborn than untaught.””
—Ralph Waldo Emerson (1803–1882)