Water right markets in the context of the new water culture: human rights to water and sustainability

Abstract

Trading Permits are emerging as a response to increased water vulnerability; especially in large urban centers. From the neoliberal view, the market instrument is considered as the mechanism for efficient allocation of water resources. However, it does not consider social costs. In contrast, the article explores the potential and limitations of incorporating Trading Permits to promote greater social justice and environmental responsibility. The perspective of ecological economics and the new water culture serve as analytical and methodological references to this end.