With Great Lakes water levels set to go to new highs this summer, and the spectacle of more beach homes toppling into the lakes, we’re now being subjected to the inevitable photo ops and speeches from politicians promising to do something about it. How about a market solution to the problem? Can’t we just sell some of that Great Lakes water to drought-stricken regions as law professor M. Todd Henderson suggested in a recent op-ed? Not a chance. The lakes are renewable, but their resources are finite.
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