Metaeconomic Solutions to Dysfunctional Water Markets

Gary D. Lynne () and Phyllis Park Saarinen
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Gary D. Lynne: University of Nebraska-Lincoln
Phyllis Park Saarinen: Resource Economics Consultants, Inc

Chapter Chapter 15 in Constructing a More Scientific Economics, 2022, pp 309-329 from Palgrave Macmillan

Abstract: Abstract Neoliberal plans advocated by Chicago School Libertarian Economics call for moving to ever more private property to facilitate maximizing self-interest through water marketing. The unfounded claim, in both an empirical and ethical sense, is that economic efficiency cannot be served by any other approach. Both Buddhist and Metaeconomics point to the dysfunction of this approach. True economic efficiency arises, instead, from pursuing a balanced self&other-interest, which Adam Smith made clear involved the sentiments, that which people could go along with. All three tragedies—commons, anticommons, and excessive greed—can be avoided and efficiency achieved only by finding ways for other people to go along with that which is evolving in a water market. Balance must be achieved in the self&other-interest, market&government in the water market.

Date: 2022
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DOI: 10.1007/978-3-030-83928-4_15

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