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Submitted by Imran on

Thanks for your explanation Shanta - that is helpful. Though interesting that Governments of the world are, by implication of your argument, wasting enormous resources by looking into how to provide hospitals and tertiary education if, as you suggest, there are no clear-cut market failures. And with water, who owns water? Should a company have the right to own water which ordinary citizens use? Or does water belong to the community/society/country where it falls? I totally agree in the need for a market-based system to ensure efficient distribution and allocation of water, but to make profits from this system can be perverse, especially in cultures where water is treated as a particularly special good. (No need to reply - and I'm largely just playing devil's advocate here). Thanks.