In the early twentieth century, L.A. purchased water rights by buying up farmland and conveying the water back to L.A. These purchases created a legacy of distrust and suspicion, as people began to view the trades as theft. Gary Libecap takes a second look at the L.A.-Owens Valley transfers.
It's time to let federal agencies buy and sell land, says Tim Fitzgerald in a new PERC Policy Series paper. "Federal Land Exchanges: Let's End the Barter" offers a practical way to reform the costly and time-wasting federal land exchange process.