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102: Rights for Rivers with Erin O’Donnell

In Common

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Water Markets

Markets as an idea can very quickly become the end goal rather than the means by which you achieve an end goal. So I tend to frame water markets as a form of regulation. They are not an alternative to regulation because they require so much investment from the state in actually setting up the rules that underpin the market. The property rights to water, all the enforcement arrangements, the trading rules, all of that stuff is a state regulatory investment. And that's the unspoken element of markets. We need to be very clear. What is the problem that those markets are trying to solve? What are we using them to achieve? Because merely having a very functional water market is not actually an end

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