Corpus ID: 154468748

Institutional Underpinnings of the Water Crisis

  title={Institutional Underpinnings of the Water Crisis},
  author={T. L. Anderson},
  journal={Cato Journal},
  • T. L. Anderson
  • Published 1982
  • Economics
  • Cato Journal
  • Traditional natural resource economists have approached water resources from a market failure perspective, in which it is generally accepted that externalitiesdominate waterresourceallocation, thereby necessitating legal restrictions on water transfers. In Water Transfers, Hartmanand Seastone (1970) captured the traditional approach: In thenatural resourcesfield generally, the problem ofexternalities is widespread, and various organizational arrangements and regulatory measures have been… CONTINUE READING
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