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:
“There is many a virtuous woman weary of her trade.”
—François, Duc De La Rochefoucauld (1613–1680)
“... [a] girl one day flared out and told the principal “the only mission opening before a girl in his school was to marry one of those candidates [for the ministry].” He said he didn’t know but it was. And when at last that same girl announced her desire and intention to go to college it was received with about the same incredulity and dismay as if a brass button on one of those candidate’s coats had propounded a new method for squaring the circle or trisecting the arc.”
—Anna Julia Cooper (1859–1964)
“What makes this Generation of Vermin so very Prolifick, is the indefatigable Diligence with which they apply themselves to their Business. A Man does not undergo more watchings and fatigues in a Campaign, than in the Course of a vicious Amour. As it is said of some Men, that they make their Business their Pleasure, these Sons of Darkness may be said to make their Pleasure their Business. They might conquer their corrupt Inclinations with half the Pains they are at in gratifying them.”
—Joseph Addison (1672–1719)