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Mr. Glennon, a law professor at the University of Arizona, is the author, most recently, of “Unquenchable: America’s Water Crisis and What to Do about It” (Island Press, 2009).
Even when the drought ends, California and the West will continue to thirst for water. Only a market can direct the flow where it needs to go.
Outdated laws are wasting the region’s scarcest resource. Water should be tradable so it finds its most urgent uses.