Chapter 1
Summary
Water, the ingredient for life and the most important resource in the world is running dry. With overpopulation and mediocre water regulating systems water stress will be predicted to effect half of the worlds population by 2030. There has been the same amount of water on the Earth since the period of the dinosaurs and we have to share clean water with the rest of the 6.7 billion people in the world. A report by the World Economic forum has said that the lack of water will "soon tear into various parts of the global economic system" and "start to emerge as a headline geopolitical issue". and it also adds: "The financial crisis gives us a stark warning of what can happen if known economic risks are left to fester. We are living in a water 'bubble' as unsustainable and fragile as that which precipitated the collapse in world financial markets. We are now on the verge of bankruptcy in many places with no way of paying the debt back." The effects of water deprivation will even increase the risk of international and national conflicts as nations fight over the dwindling supply of water.
Connection
The article relates to Chapter One - Scarcity which in economics is defined as "an insufficient amount of supply" Where anything that is limited is scarce and will need to be regulated. Almost everything on the planet is scarce and although there are unlimited resources such as air the article mentioned refers to the scarcity of water on the planet.
The scarcity of water is due to the high demand and the many uses of water from cleaning to cooking to consumption,etc. With so many people on the Earth the demand is too great and the supply is too limited, and because the population is exploding and we are using the resource faster then it can replenish itself we are in a dilemma. As the reservoirs run dry tension between countries faced with drought will result in conflict and the way we deal with the problem needs to be addressed.
Reflection
There has been a lot of concern and criticism about how our water supply is being dealt with and the best way to track the usage of water and reduce it. Although the problem is not as immediate with first world countries where water is plentiful and clean it will still effect us by increasing the price of bottled and tap water due to the limited amount of water. The consequences will be felt much harsher in third world countries where people will die due to thirst or polluted water.
Source
http://www.independent.co.uk/environment/climate-change/water-scarcity-now-bigger-threat-than-financial-crisis-1645358.html
