Water. Or: applying the ‘Coase-theorem’ outside Chicago

Water. Or: applying the ‘Coase-theorem’ outside Chicago, Real-World Economics Review blog, 4/09/2013

http://rwer.wordpress.com/2013/09/04/water-or-applying-the-coase-theorem-outside-chicago/

Not energy but ‘clean water’ might become the largest future economic bottleneck for an ever-growing human population. Will this be solved by introducing ‘markets’, as suggested by neo-liberal ‘Chicago’-economists who state to be inspired by Ronald Coase who, according to them, proved that markets are more efficient at solving properly priced ‘externalities’ than firms or governments? Let’s first analyse what Coase really wrote…


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