ratchet effect


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

Origin of ratchet effect

1
First recorded in 1965–70

Words Nearby ratchet effect

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How to use ratchet effect in a sentence

British Dictionary definitions for ratchet effect

ratchet effect

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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