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:
“In a virtuous action, I properly am; in a virtuous act, I add to the world; I plant into deserts conquered from Chaos and Nothing, and see the darkness receding on the limits of the horizon.”
—Ralph Waldo Emerson (1803–1882)
“It is a good lesson—though it may often be a hard one—for a man who has dreamed of literary fame, and of making for himself a rank among the world’s dignitaries by such means, to step aside out of the narrow circle in which his claims are recognized, and to find how utterly devoid of all significance, beyond that circle, is all that he achieves, and all he aims at.”
—Nathaniel Hawthorne (1804–1864)
“Every day confirms my opinion on the superiority of a vicious life—and if Virtue is not its own reward I don’t know any other stipend annexed to it.”
—George Gordon Noel Byron (1788–1824)