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)
“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)
“Still, vicious or virtuous,
Love suits most of us.”
—Philip Larkin (1922–1986)