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Should rivers and lakes be owned?

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Apologies if I'm creating a topic that already exists. I'm new here. If I'm being redundant, please just point me in the right direction.

I'd like to get thoughts on the management of a commons, specifically water resource commons. Under our current system of government ownership and management of commons, resources are price controlled which is leading to the depletion of water, the West's most precious resource. Obviously the solution to this would be to allow the price of water to rise to equilibrium in the market so that is appropriately priced for what it's worth and people are forced to have to start being more careful with it.

But the problem then becomes, do we allow rivers and lakes and streams to be owned by corporations? If so, for how long? And how do we respond to the inevitable criticism from the majority who will see this as a threat to a precious resource? 

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