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

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

"People say that the federal government often is under a ratchet effect, meaning it only gets bigger. Or, maybe if a Republican gets in, it stays about the same, but it never actually shrinks."

From Fox News

In this case, Kurtz said, "President Trump, with the help of Secretary Carson, have actually countered the ratchet effect."

From Fox News

The sudden expansion of government power during times of crisis, the ratchet effect, is described in economist Robert Higgs’ book Crisis and Leviathan: Critical Episodes in the Growth of American Government.

From Slate

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