definitions
  • synonyms

ratchet effect


noun

intermittent growth, increase, expansion, or the like: the ratchet effect of defense expenditures.

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Nearby words

ratbaggery, ratbite fever, ratcatcher, ratch, ratchet, ratchet effect, ratchet jack, ratchet wheel, rate, rate base, rate card

Origin of ratchet effect

First recorded in 1965–70
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019

British Dictionary definitions for ratchet effect

ratchet effect


noun

economics an effect that occurs when a price or wage increases as a result of temporary pressure but fails to fall back when the pressure is removed
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012