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If there's one thing that most economists generally agree on (a rare occurence), it is that resources are better allocated through a market economy than through
by olalonde 4y ago
If there's one thing that most economists generally agree on (a rare occurence), it is that resources are better allocated through a market economy than through central planning. It is my understanding that they do that with water, your example, because it is free public utility which is not subject to market forces. Government is generally not involved in the allocation of resources.
- uniqueuid 4y agoI'm with you there, but some resources are limited in the sense that externalities are growing. So my argument is that more regulation will be needed as that happens. Land, for example, has always been a limited resource and has always(*) been subject to heavy regulation.