Liquid Asset: How Business and Government Can Partner to Solve the Freshwater Crisis

Governments dominated water management throughout the twentieth century, but private businesses and markets are playing a rapidly expanding role in meeting the global need for innovative new technologies, institutions, and financing to solve the freshwater crisis. Barton H. Thompson, Jr.'s book "Liquid Asset" examines the growing position of the private sector in the business of water, looking at the potential risks that growing private involvement poses to the public interest and the obstacles that private organizations face in trying to participate in a traditionally governmental sector.

Format: Hardback
Length: 320 pages
Publication date: 21 November 2023
Publisher: Stanford University Press

Governments have dominated water management throughout the twentieth century, tasked with ensuring a public supply of clean, safe, reliable, and affordable water. To achieve this, governmental agencies have controlled water administration in most of the world, building dams, reservoirs, and aqueducts to store water when available and move it to areas with increasing populations and economies. While private businesses have sometimes played a part in managing water, typically in a supporting position as consultants or contractors, their role has been limited.

However, today, with the global need for innovative new technologies, institutions, and financing to solve the freshwater crisis, private businesses and markets are playing a rapidly expanding role, bringing both new approaches and new challenges to a historically public field.

In his book, Liquid Asset, Barton H. Thompson, Jr. examines the growing position of the private sector in the business of water. Thompson seeks to understand the private sector's involvement in meeting the water needs of both humans and the environment, looks at the potential risks that growing private involvement poses to the public interest in water, and considers the obstacles that private organizations face in trying to participate in a traditionally governmental sector.

Thompson provides a richly detailed analysis to foster both improved public policy and responsible business behavior. As the book demonstrates, the story of private businesses and water offers a window into the serious challenges facing freshwater today, and their potential solutions.

One of the key challenges facing water management is the increasing demand for water due to population growth, urbanization, and industrialization. As a result, governments and private organizations are facing pressure to find new and innovative ways to manage water resources.

One approach that private businesses are taking is to invest in water purification and treatment technologies. By developing and implementing these technologies, private companies can help to reduce the demand for water by making it more accessible and affordable. For example, private companies are developing water filtration systems that can remove impurities from water, making it safe to drink and use for irrigation.

Another approach that private businesses are taking is to invest in water conservation technologies. By developing and implementing these technologies, private companies can help to reduce the amount of water that is wasted by households, businesses, and industries. For example, private companies are developing smart irrigation systems that can optimize water usage based on weather conditions and soil moisture levels, reducing water waste and saving farmers money.

In addition to investing in water purification and treatment technologies, private businesses are also investing in water infrastructure. By developing and implementing water infrastructure projects, private companies can help to improve the efficiency and reliability of water supply systems. For example, private companies are developing water distribution systems that can deliver water to remote areas more efficiently and reliably, reducing the need for expensive infrastructure upgrades.

However, growing private involvement in water management also poses potential risks to the public interest. One of the primary concerns is the potential for private companies to prioritize profits over public health and safety. For example, private companies may be willing to cut corners on water quality standards or environmental regulations in order to reduce costs. This could lead to the pollution of water resources, which could have negative impacts on human health and the environment.

Another concern is the potential for private companies to monopolize water resources. If private companies are able to control a significant portion of the water supply, they may be able to exploit their monopoly power to raise prices and limit access to water for those who cannot afford it. This could have negative impacts on vulnerable communities, particularly those in developing countries.

To address these concerns, governments and private organizations need to work together to develop policies and regulations that promote responsible business behavior and protect the public interest in water. This may include measures such as implementing water quality standards and environmental regulations, promoting public-private partnerships, and investing in infrastructure that can provide access to clean water for all.

In conclusion, the growing position of the private sector in the business of water offers both new opportunities and challenges. While private businesses can bring innovative new technologies and approaches to water management, they also pose potential risks to the public interest. By working together, governments and private organizations can develop policies and regulations that promote responsible business behavior and protect the public interest in water. This will ensure that we can meet the growing demand for water while also preserving the health and safety of our environment and communities.

Dimension: 229 x 152 (mm)
ISBN-13: 9781503632417