Economic Value Of Water
Natural resources of the world have been under serious pressure since the beginning of extensive inventions of human being. Ever-increasing population, climate change, pollution and increasing demand for feeding the world’s hunger (not for the poor, but for the rich) have destroyed the natural resources, particularly the water which is main source of the life. The need to manage the scarce water resources in the face of these growing threats becomes crucial under present conditions. Because economics as a science is interested in allocation of scarce resources to unlimited human needs and desires and water is the most threatening scarce resource, the need of recommendations for water management with current data is required.
This paper examines current conditions and debates about value of water and seeks to provide sustainable policies for efficient management of water in an integrated concept. The economic value of water is analyzed with historical perspectives and threats to water resources and economic instruments which are effective to determine the value are examined. In this sense, this paper contributes to create a basis for literature. In addition, it is tried in this study that making the policies and recommendations a useful tool for raising awareness in society which tends to ignore the environmental disasters and regulations when there is no economic gain or loss.
Keywords— Value of Water, Economic Value, Economic Instruments, Water Management, Integrated Management.