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It is often market value, but it doesn't have to be. And how are you going to determine the market value of a limited resource undergoing shortages that are ca

by vkou 4y ago

It is often market value, but it doesn't have to be. And how are you going to determine the market value of a limited resource undergoing shortages that are caused by non-market participants taking the lion's share of it?

s1artibartfast 4y ago
Why do you think agriculture is not a market participant?
- vkou 4y ago
  Because if it were paying market rates for water, it wouldn't be growing low value, thirsty crops like alfalfa during a water shortage.
- kortilla 4y ago
  Because they don’t pay a market rate.