Does anyone actually want a spot market for water?

This is going to be a short post simply to ask the above question. It’s obvious to me that policymakers, academics and commentators are in love with the idea of a spot market for water- in other words, an instantaneous market that connects buyers and sellers of water and puts the resource to its “highest…

The Problem with Water Markets

The historic drought in California has brought much welcome attention to the problems of water allocation in the American West. I can’t even count the number of articles explaining the “wasteful” water use by California’s almond and alfalfa farmers, or the ones laying out a better way forward. Two days ago, an international affairs fellow…