Philanthropy Action

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Jun 23, 2008

Putting a Price on Water

The huge underwater aquifiers that have sustained agriculture in water scare regions in India and the Southwest United States have run dangerously low due to decades of uncontrolled pumping and wasteful irrigation. Without intervention, this scarcity will become only more acute, as farmers and other landowners preemptively pump even more in an effort to get as much as they can for themselves before it is gone. Making water a trade-able commodity that costs something based on availability and price is one solution to the problem.