Water scarcity is the new reality across much of the western United States. How can growing communities adjust to using less water? How can we equitably allocate this scarce resource? And what policy tools are available to more efficiently conserve water? PERC Senior Researcher Katherine Wright joins the Hayek Program podcast, a project of the Mercatus Institute, to answer these questions. The episode examines the intersection of economics, sustainability, and environmentalism, and explores how we can harness markets and property rights to achieve our conservation and sustainability goals.