POSITIVE FEEDBACK

• If someone does something once, they are more likely to do it again, not less.
• Once one person has done something, others are more likely to do it, and the more people do it, the more likely it becomes that the next person will do it.
• At the heart of neo-classical economics is a negative feedback model, if prices go up, demand goes down. It is a model which stabilises.
• Positive feedback can also lead to stability, but it can also lead to rapid change, with similar systems diverging sharply and quickly.