Yes I know, your least-favorite idea goes here. But seriously, someone must have come up with the concept before. Like a bad get-rich-quick scheme could fall into this category, where joining the scheme makes people lose money and become more desperate, so they become more likely to do desperate things like invest more in the scheme. But it can apply to a number of other bad ideas.
“Streisand effect” comes to mind, but like “sunk cost fallacy” it’s just an example of something “becoming more popular the more it fails.”
Springtime for Hitler. Somewhat fits. It’s an intentional failure that succeeded.
Popular boondoggle is a term we used to use at work. I’ve never herd it used outside that job though.
Conservativism.
That’s more of a mental disability
That’s the “sunk cost fallacy”
Sunk cost fallacy is definitely a subtype, but I’m going for I guess the more general concept of an idea that becomes more popular the worse it does
There’s a certain amount of Gambler’s Fallacy in this, too: I’ll keep going, because it’s going to turn around.
Yeah, I think it’s the really the Gambler’s Fallacy, even if OP doesn’t describe gambling. It’s the idea of “It’s my turn for success to come soon – I’m due for my turn!”
The term isn’t quite as specific as you want, but it sounds like a positive feedback loop? (the linked article even gives ponzi schemes as an example)
I world call that “failing upward” which is fucking up your job such that you get a promotion.
Sunk cost fallacy is probably the most obvious one that springs to mind. Not unlike gambling in a sense, people feel they just need one big payout to win it all back and then some, so they keep betting, hoping that this time things will go in their favour.
Sounds about right. This keeps happening at my job, executives throwing good money after bad in an attempt to get some return on their investment. If we had just cut our losses years ago we’d be in a much better place now.
“Its Morbin Time” comes to mind
