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Why would it require legislation? Scarcity will drive up price automatically.
by quotemstr 7y ago
Why would it require legislation? Scarcity will drive up price automatically.
- jplayer01 7y agoThe market is very good at ignoring or hiding scarcity or other externalities until the damage is done. Nothing is "automatic" about it. The "free market" doesn't exist in a way that would allow the price to organically reflect water's actual scarcity.
- ip26 7y agoBecause we'd have to rework the existing legislation that determines who has right to the water, & also the various legislation that expressly prohibits the reselling of water or the forming of water markets. We don't legislatively set the price, but we have to create the conditions for the market.