Water Is The Most Important Natural Source

1255 WordsMay 24, 20166 Pages
1.0 Introduction Water is the most important natural source. There has been activism all over the world to attain governed pricing mechanisms and market transactions due to its mobility and centrality to sustenance of human life. The physical, conceptual, and social plasticity aspects of water as a resource create uncertainty with regard to handling and thus posing critical questions in response to use and management. In the last three-four decades, world’s economic institutions such as World Bank and International Monetary Fund (IMF) have pushed for privatization of water services in most developing nations in line with their neoliberal economic philosophies (Coleman 4). Typically, these policies entail transfer of property rights to…show more content…
This is the time when most economic institutions started regarding water as a resource that can be converted into a commodity. This idea came as a result of role and ambit of markets in social life with regard to government’s role in provision of services and in administration of public goods. This was highly influenced by Reagan and Thatcher administrations in 1970s and early 1980s. Neoliberal policies compelled governments to liberate trade, privatize state services and to give up foreign investment control (Balive & Prashad 73). By the onset of 1980s, economic institutions such as World Bank, regional development banks and IMF begun adopting these views that state economies function best under minimal government’s involvement together with privately ownership and control of most factors of production. In an open and free market, goods and services are distributed freely and eventually economic prosperity is attained. In this regard, World Bank with the support of most Northern Governments forced most developing countries into adopting the neoliberal policies through adjustment of various programs which included privatization of most social services. These policies asserted that any developing could only receive World Bank funding if it adhered to the neoliberal principles (Balive & Prashad, 103). The
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