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From an economics perspective, there would have been a simple way to solve the problem. Create an imaginary market for cobra corpses. Basically the British gove
by kamakazizuru 15y ago
From an economics perspective, there would have been a simple way to solve the problem. Create an imaginary market for cobra corpses. Basically the British government could have simply paid a price = 1 Rupee (or whatever max price they were willing to apy) /(total number of cobras purchased in the last Period of time) {where the period of time would obviously need to be adjusted for it to be sensible so that farmers dont just hold onto snakes and then come with many at once).
The denominator could also be adjusted based on some biological factors - i.e. how long does it take to breed a cobra, what is the estimated number of cobras out there, so on and so forth.
Further more there could be limits to the number of cobra that any one seller can sell in a the aformentioned period. As well as limit to the total number of cobras purchased in each period - (i.e. - we've bought out enough for now - thanks).
I could go on...
- RockyMcNuts 15y agoLOL but I think you're proving the point Hayek quoted above. In programming there's always another bug, in economics there's always another unintended consequence or negative externality.