But be careful because nothing. Just offer a cash reward.
When you want to get rid of a nasty pest one obvious solution comes to mind.
Cobra effect economics. The term cobra effect originated in an anecdote set at the time of british rule of colonial india. The british government was concerned about the number of venomous cobra snakes in delhi. The government therefore offered a bounty for every dead cobra.
Initially this was a successful strategy as large numbers of snakes were killed for the reward. Heard of cobra effect. Be careful what you ask for.
There is this funny story about the cobra effect based on an anecdote from british colonial time in delhi. Too little attention is given in economics to second order and even higher order effects. This defect is quite understandable because the consequences have consequences.
Unintended consequences happen so often that economists call them cobra problems after a famous historic example. In colonial india delhi suffered a proliferation of cobras. To cut the number of cobras the local government placed a bounty on them.
Can you guess what happened. The cobra effect is a term in economics. It refers to a situation when an attempted solution to a problem makes the problem worse.
This name was coined based on an incident in old colonial india. By some reasons there were too many venomous cobra. Systems thinking and the cobra effect development society.
Ecosystems sustainability governance economics politics 20150916 barry newell and christopher doll united nations university. In december 2010 the website wikileaks was the subject of dos attacks and rejection from isps as a consequence of the united states cable leaks. People sympathetic to wikileaks cause voluntarily mirrored the website in order to.
Although generally the syllabus covers a very broad range of economic concepts and theories there are many that without extra reading i otherwise would never have heard of. An example of this is the cobra effect which i was not aware of before listening to this freakonomics podcast. Yes you were hot before and now the tops of your arms are cool but youre also a guy wearing a cut off shirt and thats horrible.
That metaphor doesnt completely encapsulate the socio economic implications of the cobra effect but hopefully after you read this list of the most ironic examples of the cobra effect youll be on board. The cobra effect is when trying to fix something actually makes it worse. Conservatives are now engaged in their own version of the cobra effect.
Our latest freakonomics radio podcast is called the cobra effect downloadsubscribe at itunes get the rss feed listen via the media player in the post or read the transcript below the gist.