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:
“The pit of a theatre is the one place where the tears of virtuous and wicked men alike are mingled.”
—Denis Diderot (1713–1784)
“That three times five is equal to the half of thirty, expresses a relation between these numbers. Propositions of this kind are discoverable by the mere operation of thought, without dependence on what is any where existent in the universe. Though there never were a circle or triangle in nature, the truths, demonstrated by Euclid, would for ever retain their certainty and evidence.”
—David Hume (1711–1776)
“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)