A Market-Based Solution to California’s Water Shortage
California’s water crisis – and Governor Jerry Brown’s draconian response to it – could go a long way toward uniting middle class and elite urbanites in a revolt against political favoritism run amuck.
As Shikha Dalmia explains, “The best — and most sustainable — solution to California's water woes would be full-bore markets in which prices can rise and fall with supply and demand. Under such a system, depleting water reserves would have led to price increases long ago, producing an automatic incentive to conserve. More importantly, this would have clearly signaled growing scarcity, spurring new technologies for affordable water generation. All of this would have allowed consumers and businesses to make small adjustments over time without letting the shortage reach a crisis…[more]
I’ve got a new working theory about Barack Obama’s second term: It’s all one elaborate practical joke. It’s not just the increasingly improbable string of bad news — after terrorist beheadings and the Ebola virus, I’m pretty sure plagues of locusts come next — but also the White House’s ability to react to every crisis as if trying to answer the question “What could a President do in this moment to be the least reassuring?”
Vladimir Putin starts moving military assets west towards Europe? We’ll react by publicly chiding him for…
"2016 is already shaping up as the most unusual open-seat presidential race in our time: one candidate fixed and foregone, the other yet to emerge from a wild race of a near-dozen contenders with none exceeding 20 percent.So brace yourself for a glorious Republican punch-up, punctuated by endless meta-coverage of the Democrats' coronation march. After which, we shall decide the future of our country…[more]