The recent decline in the Baltic cod Gadus morhua L. has been accompanied b
y an increase in population variability. Small population size, poor recrui
tment, and high population variability may be factors contributing to their
imminent (commercial) extinction. Here we show that variable harvest rate,
rather than variable recruitment, is the plausible cause of the increased
variance in Baltic cod stock size. This calls for a reconsideration of the
role of harvesting as a driving force in exploited populations. The mean ex
ploitation rate, and also the variance, ought to be taken into account in f
isheries and other population management.