ratchet effect

American  

noun

1. intermittent growth, increase, expansion, or the like.

   the ratchet effect of defense expenditures.

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ratchet effect British  

noun

1. 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

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Etymology

Origin of ratchet effect

First recorded in 1965–70

Example Sentences

Fourth, the Fed needs to reform its operating framework to stop the QE ratchet effect.

From Barron's • Feb. 20, 2026

Moral relativism and the ratchet effect will ensure that there is always some precedent close enough to persuade people to shrug even when confronted with some evidence of genuine turpitude on their own side.

From The Wall Street Journal • Oct. 27, 2025

One frequently cited example of the ratchet effect is the impact of 9/11 on the American intelligence community, which led to an increase in government surveillance and a decrease in privacy for American citizens.

From Slate • Mar. 20, 2020

As with regulation in general, disclosure mandates have been subject to a ratchet effect.

From Forbes • Sep. 8, 2014

The plink of the piano, the bend of the electronics-controlled voices, the ratchet effect on the drums — the whole track glides and clicks into place before your eyes, forming itself around you.

From Seattle Times • Jun. 23, 2011