This Comment argues that a free-market system for water-use rights should be implemented to address and prevent water shortages. A water market system would require that secure property rights be attached to water use and that those rights be freely tradable. Current water-rights regimes used in the United States are not sufficient to support such a market system because current regimes do not grant secure property rights in water use, and it is unclear to what extent water-use rights can be transferred. Therefore, a market system under the current water-rights regimes would not be able to maximize its potential to promote efficient allocation of water resources.
Paul W. Puckett,
Trading Water: Using Tradable Permits to Promote Conservation and Efficient Allocation of an Increasingly Scarce Resource,
Emory L. J.
Available at: https://scholarlycommons.law.emory.edu/elj/vol59/iss4/5