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]
President Barack Obama and his allies like to say he’s issued far fewer executive orders than his predecessors, giving the false impression that his unilateral actions can be compared on the same terms.
“The truth is, even with all the actions I’ve taken this year, I’m issuing executive orders at the lowest rate in more than 100 years,” Obama said in Texas last summer. “So it’s not clear how that Republicans didn’t seem to mind when President Bush took more executive actions than I did.”
Around the same time, Senate Majority Leader Harry Reid…
"'Clinton Cash: The Untold Story of How and Why Foreign Governments and Businesses Helped Make Bill and Hillary Rich,' by Peter Schweizer -- a 186-page investigation of donations made to the Clinton Foundation by foreign entities -- is proving the most anticipated and feared book of a presidential cycle still in its infancy.The book, a copy of which was obtained by The New York Times, asserts that…[more]