In the Wall Street Journal, Gary Libecap and Robert Glennon discuss the West's outdated water laws. A policy overhaul, they argue, would allow efficient water markets and reward conservation.
If you can't dam, divert, or drill, it's time to consider allocating water through markets.
Legislators' investments threaten people living near the Atchafayala River
It is well past time to hand management of trust assets over to the individuals who own them.