Water as a Commodity

In the world of today, markets have evolved into dominant forms that determine how people use, produce, and consume resources within an economy. Thus, in a water scarce world, it is possible to consider water as a commodity, with its use being decided by the market for water in a regional or national context. This brief essay presents a discussion about the historical forces that caused markets to replace other economic systems, the distinguishing features of a market economy and the place of water as a commodity within the market economy system.