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:
“all must die.
Only a sweet and virtuous soul,
Like seasoned timber, never gives;
But though the whole world turn to coal,
Then chiefly lives.”
—George Herbert (1593–1633)
“There is all the difference in the world between departure from recognised rules by one who has learned to obey them, and neglect of them through want of training or want of skill or want of understanding. Before you can be eccentric you must know where the circle is.”
—Ellen Terry (1847–1928)
“My companion assumes to know my mood and habit of thought, and we go on from explanation to explanation, until all is said that words can, and we leave matters just as they were at first, because of that vicious assumption.”
—Ralph Waldo Emerson (1803–1882)