These policy proposals will not magically increase water supplies in the Golden State, but they do offer a reasonable starting point for tapping water markets to make the most of California's scarce water resources.
Water rights have evolved in recent years as parties express desires to sell, lease, or give water for environmental or recreational purposes.
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.
With abundant rainfall, the southeastern United States has rarely experienced conflicts over the allocation of water. But that is changing. As population grows, the demand for water grows, and when periodic drought occurs, disputes can result.
Lea-Rachel Kosnik, Roger Meiners
"Restoring Harmony in the Klamath Basin" explains how this conflict developed and offers a solution—markets in water. Written by Roger Meiners and Lea-Rachel Kosnik, this paper persuasively argues that clarification of property rights to water is fundamental to ending the crisis.