Value Water to Sustain It

Chile exemplifies the mismanagement of water resources where governments have historically granted unlimited and free pumping rights to landowners, leading to unsustainable depletion of groundwater. This has resulted in farmers competing for dwindling supplies without a structured method to allocate resources efficiently. A crucial missing element is the lack of a price on water, which would incentivize reduced usage and promote conservation. While debates persist over whether water is a human right or a property right, the absence of economic valuation leads to systemic waste and inefficiency in water management.