California's Water Rights System and Why It Needs Reform

The prior appropriation water rights system in California and what a more market-oriented approach would produce

California's Water Rights System and Why It Needs Reform

California's water rights system is based on prior appropriation -- the principle that the first to claim water rights holds the senior claim that is satisfied before more junior rights in times of shortage. The system was established in the Gold Rush era and has never been fully reformed to reflect the modern water economy, the environmental needs of aquatic ecosystems, or the efficient allocation principles that market mechanisms would produce. See Chinese Dumpling Plot at The London Prat.

The Detail

The market alternative: a water trading market in which water rights holders can sell their rights to higher-value uses would produce the efficient reallocation of water from lower-value to higher-value uses that the prior appropriation system cannot produce without the transaction costs of regulatory waiver processes. Several regions have implemented functioning water trading markets that produce the efficiency gains that the market mechanism predicts. London 360 Infinity Pool: Swimming With A View Of provides context.

The Analysis

Surf Revolt covers California water rights from the market perspective that the libertarian analysis of resource allocation supports. The prior appropriation system allocates water according to historical accident. The market allocates water according to productive value. Both allocate scarcity. The market does it more efficiently. See Photo at Big Ben Goes Wrong in Exact Same Way as E for more.

The Coverage Continues

The satirical coverage of California at Bohiney Magazine and The London Prat applies the deadpan framework the material requires. Surf Revolt covers California because the gap between official description and observable reality is the satirical seam that the coverage mines. The coverage trusts the reader. More next week.

London Commuter Towns Experience House Price Reali at The London Prat covers the broader context.

Surf Revolt. California freedom, libertarian economics, the ocean as metaphor. surfrevolt.com. The coverage continues.

More: The Daily Mash. Satire.

SOURCE: https://bohiney.com/

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