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>...Seems like if the market just naturally achieved efficiency, you'd grow water intensive crops in places that were not constrained on the resource. What doe
by opo 5y ago
>...Seems like if the market just naturally achieved efficiency, you'd grow water intensive crops in places that were not constrained on the resource.
What does preferential treatment by the government have to do with the market? If the farmers didn't get water at a heavily discounted price from the government, they likely wouldn't be able to grow such water intensive crops and the crops would be grown in places that were not contained on the resource. Heck, they even grow rice in CA!
- tcmart14 5y agoBecause those who succeed in a market end up with the money to influence policy. That is why that is important. Policy affects markets which then affects policies. It is a concept in capitalism we are not going to get away from.
- opo 5y ago>...It is a concept in capitalism Throughout all recorded history those who have been well connected with those in power have unfairly benefited from that. This isn't something that only came about in modern times. It is only in modern political systems with rule of law, property rights, recognition of inalienable rights, etc. where people feel that this kind of political favoritism is bad and work to limit it by constraining the power of those in power. Constraining the the rulers is done by limiting their power by written constitutions, political transparency, etc. One can certainly argue (and I would agree) that there is more political favoritism than there should be, but at least modern economic systems think it is a bad thing and people work to limit it.