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The Indicator From Planet Money - Podcast | Liquid Markets | featured

Liquid Markets | What do you do when there's not enough of something to go around? A lot of economists say, “Put a price on it!” So that's what Australia did with water. On today's show, we continue our series on the economics of water in the driest inhabited continent on Earth.

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Liquid Marketsspraying water sprinkler watering plant in farm against sunset light-Liquid Markets

Australia's Murray-Darling Basin has one of the world's most advanced water markets. Water can be bought by the highest bidder. In theory, this means water goes to its best use. But local farmers like Carly Marriott are frustrated by high water prices.

So what happens when dry economic theory meets sloshy, sloppy reality?

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