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That is the beauty of the market: you do stupid things like that and you aren't rich enough to do so much longer.

If it was regulated and you used your buddy connections to appropriate all the water usage rights then you still have your buddy connections once you have taken my water.

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There has to be a balance between government regulation/oversight and market forces. Just look at what happened with Wallstreet. You think no intervention at all would have been a good idea there?

It's not about disallowing the other guy from doing stupid things and not being rich anymore, it's about not allowing someone to waste precious resources essential for human life, so as to not make it harder for others in need to have access (at accessible and fair prices) to said resources in the future.

Not unless the cost of water is super, super expensive. Which it won't be.

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