Water Privatization

1494 Words6 Pages
Man has desired precious natural resources of the Earth since their benefit or value was realized. Advancement of society and a collective sense of knowledge, one that did not cease with the death of an individual or group of people, meant that more resources were required to reap increased benefits for society. Of all natural resources crucial to human prosperity none plays a more central role than water, and because of that significance water has increasingly been sought and fought over. In the modern era, freshwater is used more than ever to quench the thirst of growing populations and to produce the crops that feed them, causing shortages in nations where freshwater was originally rare and fear of such a shortage in more privileged parts of the world. A key element to the issue of water scarcity is the way in which it has been battled by the privatization of water rights, an undertaking that has sparked conversation of immoral corporate behavior and fears concerning the commodification of water. With the unprecedented spike in total population since the 1950’s, water is demanded more now than ever before, giving rise to an argument set in economics rather than ethics. The concept of “supply and demand” refers to the relationship between price of a good and the number of units people would be willing to purchase at that price, and though segments of the theory were suggested in 14th century Muslim texts and by John Locke in the 17th century, the idea was made famous by Adam Smith’s The Wealth of Nations, written in 1776. Markets, a place in which willing buyers and sellers can exchange valued goods, naturally give rise to supply and demand which can naturally reach a state of “equilibrium” when price and demand are uniform (S... ... middle of paper ... ...ties.” The Great Transformation. Boston: Beacon, 1957. 71-80. Print. World Savvy Writers. “World Savvy Monitor.” Privatization of Water. World Savvy, Nov. 2009. Web. 07 June 2014. Burnett, M. and Welford, R. “Case Study: Coca-Cola and water in India: episode 2” Corporate Social Responsibility and Environmental Management. John Wiley & Sons, 2007. Intro. Print. Right of Water, “Case against Coca-Cola Kerala State: India.” Rights to Water and Sanitation RSS. WaterAid, Freshwater Action Network. n.d. Web. 07 June 2014. Blinder, Alan S. “Supply and Demand: An Initial Look.” Principles & Policy of Microeconomics. By William J. Baumol. 12th ed. Mason: Cengage Learning, 2012. N. pag. Print. DePaul University Edition. Hyde, Lewis. “What Is a Commons?” Common as Air: Revolution, Art, and Ownership. New York, NY: Farrar, Straus and Giroux, 2010. N. pag. Print.
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