Socialism

Socialists discover the function of prices in California drought.

"Today California exports about six trillion gallons of virtual water, or about 500 gallons per resident a day. How can this happen amid drought? The problem is mispricing. If water were priced properly, it is a safe bet that farmers would waste far less of it, and the effects of California's drought—its worst in recorded history—would not be so severe. "A free market would raise the price of water, reflecting its scarcity, and lead to a reduction in the export of virtual water," say Davidow and Malone."

But there will be no free market.