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ratchet effect

   Also found in: Wikipedia 0.01 sec.
ratchet effect
n
(Economics) 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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Military hours fell still further in 1947, leveling off for four years at somewhat less than three times their amount in 1940--a ratchet effect that reflected the military establishment's (and its private contractors') newly acquired political clout and the incipient Cold War (Lazarowitz 2005; Higgs 2006, 126-27).
ECONOMIC ADMINISTRATION The ratchet effect seems to have been first formulated by Berliner (1957, p.
Data on peer CEOs is available in proxy statements, if one can decipher them, or numerous consultants stand ready to show you that your CEO is in the third or fourth quartile when his total compensation is ranked with his corporate neighbors, thus propagating the ratchet effect in which CEO salaries steadily leapfrog one another upward, ever upward.
 
 
 
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