In the 1980s, New York City undertook a huge project to begin metering residential water service and charging for individual apartment and condo water use rather than simply assessing a flat fee as had been the norm. It was as huge and contentious a project as one would imagine. Why go to all this trouble and expense?
Well, you hardly have to be a radical free market economic thinker to accept that there's generally a connection between how much something costs and how much people consume. The higher the price, the less you use. In this case, the incentives … Read more