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The Murray-Darling Basin shows why the 'social cost of water' concept won't work

By Sarah Ann Wheeler, Professor in Water Economics, University of Adelaide
Claudia Ringler, Deputy Director, Environment and Production Technology Division, International Food Policy Research Institute (IFPRI)

After almost half a century, the United Nations has waded back into the murky world of water policy. But one of the ideas following this year’s international meeting has been shot down.

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