Could water markets help solve the American West’s water crisis?

Outlet: Vox

October 31, 2014

It’s no secret that the American West is facing a severe water crisis. So what should the West do? There are lots of outlandish solutions out there. Some people have suggested diverting valuable water from the faraway Missouri River. Or towing icebergs from the Arctic to California. But this would be staggeringly expensive. Other, more modest proposals include water recycling or even desalination. But still other experts insist that part of the answer lies in a much more boring but effective solution: water markets. Basic economics, they say, can help fix the water crisis.