Should water resources be publicly owned? Well some environmental activists may think so, but according to a new report by Richard Tren of the Free Market Foundation, common ownership will do nothing but encourage the waste of this precious resource. Tren notes that when anything is declared common property, there is no incentive to conserve, while on the other hand, private ownership encourages efficient use. Indeed, when Chile recently privatized its water resources, municipalities were able to buy up water from farmers, and in a few short years, deliver clean water to 99 percent of the urban poor, and 94 percent of the rural poor. Talk about a great way to open up the spigot for a wiser use of water
December 15, 2004 by CFACT,
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