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]
It is fascinating to see brilliant people belatedly discover the obvious — and to see an even larger number of brilliant people never discover the obvious.
A recent story in a San Francisco newspaper says that some restaurants and grocery stores in Oakland's Chinatown have closed after the city's minimum wage was raised. Other small businesses there are not sure they are going to survive, since many depend on a thin profit margin and a high volume of sales.
At an angry meeting between local small business owners and city officials, the local organization that had campaigned for the higher…
"'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]