It really would be nice if we could all stop thinking and working together as a society and just let short term market self interest drive all our societal decisions, but reality keeps intruding. Economics has long identified some of the limits; one in particular is the concept of the Tragedy of the Commons which is now playing out in California. Water has replaced the grass of the English commons, but that's the only change. Agricultural interests have prevented regulation of water supplies (unlike every other state), so water was considered 'free" leading more and more people to tap into it. The same as putting more and more sheep into the 'free' grass of the village common. Eventually the grass is over grazed and the sheep die. Or in this case the water is overused and crops fail.
The "market" is fine as far as it goes, but when prices do not reflect the true long term costs, societal action should intervene of make sure those costs are considered.
PS Each almond requires more than a gallon to water to reach maturity? Yikes.
California's Wet Dream
The "market" is fine as far as it goes, but when prices do not reflect the true long term costs, societal action should intervene of make sure those costs are considered.
PS Each almond requires more than a gallon to water to reach maturity? Yikes.
California's Wet Dream