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:
“Our virtues are all social; if,
Deprived of solitude, you chafe,
It’s clear you’re not the virtuous sort.”
—Philip Larkin (1922–1986)
“The lifelong process of caregiving, is the ultimate link between caregivers of all ages. You and I are not just in a phase we will outgrow. This is life—birth, death, and everything in between.... The care continuum is the cycle of life turning full circle in each of our lives. And what we learn when we spoon-feed our babies will echo in our ears as we feed our parents. The point is not to be done. The point is to be ready to do again.”
—Paula C. Lowe (20th century)
“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)