Abstract
AbstractA group of free market natural resource economists argue that the current system of limited property rights for groundwater users should be replaced by a new system of freely transferable property rights This, they contend, would provide the more efficient allocation of groundwater resources and help alleviate the water scarcity problem in the United States Their case for privatization is critically appraised Groundwater hydrology, common property, contamination, and other third party effects are examined to determine the set of circumstances under which privatization would work best The following alternatives to the full privatization plan are also examined central management, legal reform, and “French style” privatized management of water systems
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