> Any personal use will easily outbid agriculture without being at all noticeable to even poor individuals. Like radio spectrum bandwidth, a limited resource.

> Any personal use will easily outbid agriculture without being at all noticeable to even poor individuals. Like radio spectrum bandwidth, a limited resource. Unlike bandwidth, availability is not fixed or guaranteed, and no human agency can make it so. I have written pages of stuff, trying sort this out. I don't see how a market can create water. In the Dust Bowl, ranchers were given a fixed price for each head of livestock, slaughtered the cattle. It was a shock, a sudden phase change, and smallholders were bankrupt. But even then, the state didn't sell water futures: they liquidated the cattle. They didn't claim the water would return.