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Now if only they would follow the 200 year old recommendation of economists and put a price on it. EDIT: To clarify, consensus on the role of prices on economi
by saosebastiao 11y ago
Now if only they would follow the 200 year old recommendation of economists and put a price on it.
EDIT: To clarify, consensus on the role of prices on economic allocation goes back to Adam Smith, but using prices specifically to regulate allocation of natural resources only really goes back to Henry George, which I guess is a bit younger than California's misuse of water. Regardless, we're still about a century behind economists in knowing exactly what to do about this problem.