Markets, Mechanisms, Institutions, and the Future of Water
Water scarcity is no longer a threat, it is a reality. Increasing populations throughout the country and the world are putting increased pressure on existing supplies of freshwater. Cities, states, and regions are scrambling to find solutions to this burgeoning problem. The impact of drought, which has been felt not only in the typically dry Southwest, but also in the humid Southeast this past summer, compounds the problem. So, what mechanisms evolve to help alleviate the problem?