I. ˈes-kə-ˌlā-tər, ÷-kyə- noun
Etymology: from Escalator, a trademark
Date: 1900
1.
a. : a power-driven set of stairs arranged like an endless belt that ascend or descend continuously
b. : an upward course suggestive of an escalator
a never-stopping escalator of economic progress — D. W. Brogan
2. : an escalator clause or provision
II. adjective
Date: 1930
: providing for a periodic proportional upward or downward adjustment (as of prices or wages)
an escalator arrangement tying the base pay…to living costs — N. Y. Times