Swiss Economicblogs.org
Part I of II Almost two decades ago, German economist Horst Siebert coined the term the “Cobra effect” to describe the real-world consequences of “well-intentioned” government interventions that go awry and produce the exact opposite results from what they aim for. The term was inspired by an incident that took place in India during the British rule, when the authorities tried to reduce the number of deadly cobras in Delhi by offering a cash reward to citizens for every dead...
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