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submitted 21 hours ago by Track_Shovel@slrpnk.net to c/196

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[-] ImplyingImplications@lemmy.ca 74 points 19 hours ago

Hopefully people remember and learn from the Australian government who allowed water to be traded like stocks. The idea was that farmers and companies that needed water most would pay for water rights from people who didn't need it.

In practice it lead to mega rich foreigners buying up all the water rights in Australia and preventing anyone from using them which created artificial scarcity and drove up prices. These mega rich foreigners then sold Australians their own water back to them at exorbitant prices.

[-] Dasus@lemmy.world 4 points 4 hours ago

In practice it lead to mega rich foreigners buying up all the water rights in Australia and preventing anyone from using them which created artificial scarcity and drove up prices. These mega rich foreigners then sold Australians their own water back to them at exorbitant prices.

Oh hey I've seen this movie

[-] BenLeMan@lemmy.world 14 points 14 hours ago

Yes, "people" will remember how easy it is to get filthy rich when all you have to do is cast your morals aside and exploit the basic needs of human beings. This will be a glowing example for generations of "entrepreneurs".