Encyclopedia > V > Virtuous circle and vicious circle


Virtuous circle and vicious circle



In many parts of economics there is an assumption that a complex system of determinants will tend to lead to a state of equilibrium. When this tendency is absent terms like virtuous circle and vicious circle (or virtuous cycle and vicious cycle) to describe these unstable pattern of events are used.



Information are taken from Wikipedia, the open encyclopedia, to which contribute many volunteers from around the whole world. Texts are available under the following conditions GNU Free Documentation License.

Encyklopedie (cz) Encyklopédia (sk) Enzyklopädie (de)


en