California has a real water market — but it’s not exactly liquid

Posted by Grist: None Given on May 4th, 2015
Grist: When I started reporting on California’s drought I heard a lot of people complaining that farmers were growing crops that would simply be prohibitively expensive if they had to buy and sell their water at a fair market price. That seemed like a big problem. I wrote: The best fix would be a comprehensive overhaul of the laws to make the price of water clear and responsive to scarcity. If the price of water moved according to the laws of supply and demand, ecological limits would provoke change.......

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