Topic 3 DQ 1

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Phoenix College *

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351

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Economics

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Jan 9, 2024

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Topic 3 DQ 1 Dec 11-13, 2023 Population is growing, which creates more demand for water, especially in the southwestern part of the United States. In general, states are using more water than the system can supply, diminishing this limited resource.
Utilize the Chapter 11 textbook reading, which covers concepts related to common resources such as water and the tragedy of the commons, as well as the podcast "Water in the West: Bankrupt?" provided in the topic Resources to address the following:
How would water bankruptcy work? Include who benefits and who loses as a result. Provide an alternative way in which a water shortage problem can be resolved? Hello Class, Water bankruptcy occurs when the demand for water consistently exceeds the
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available supply, resulting in a situation where there is not enough water for all users. It's so bad that water resources are depleted to the point that economic, personal, and ecological damage occurs. Priority users benefit from this because in regions with water rights systems, those with senior rights often continue to
receive water even during shortages, which may include essential services or agricultural users with longstanding water claims. Water- saving technologies benefit from this as well because companies that develop and sell water-saving technologies could see increased demand for their
products as water becomes scarcer. Then you have the environment that loses from this because ecosystems that rely on water flow for health can suffer, leading to loss of ecological collapse. The public also loses because higher water prices, water rationing, and restrictions affect the general population's quality of life and
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can lead to increased living costs. One alternative method for resolving water shortages is the implementation of market- based solutions like water pricing. Properly pricing water to reflect its scarcity and the cost of infrastructure can encourage conservation. Water rights can help allocate water to where it is valued most by
allowing users to buy and sell their water allocations. It allows water to flow to uses that are most critical for the community or that add the most economic value.

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