Development of water resoures

Abstract

In this introductory session this morning I want to briefly outline the economic properties of water and some of the economic problems associated with its management and development. The purpose of the paper is to set the scene for the rest of the conference and to broadly state the economist's position on the subject of resource use. A more detailed paper in the economics of water allocation has already been circulated and will be formally presented at tomorrow mornings session. This paper wlll therefore range rather wider than the particular topic of allocation of resources and will only touch in passing upon the issues to be discussed tomorrow.