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:
“To the virtuous man, the universe is the only sanctum sanctorum, and the penetralia of the temple are the broad noon of his existence.”
—Henry David Thoreau (1817–1862)
“They will mark the stone-battlements
And the circle of them
With a bright stain.
They will cast out the dead
A sight for Priam’s queen to lament
And her frightened daughters.”
—Hilda Doolittle (1886–1961)
“All married couples should learn the art of battle as they should learn the art of making love. Good battle is objective and honest—never vicious or cruel. Good battle is healthy and constructive, and brings to a marriage the principle of equal partnership.”
—Ann Landers (b. 1918)