Resumen
Water management issues continue to plague the western United States, including rapid population growth, degraded aquatic ecosystems, unfulfilled claims to American Indian users, the threat of global warming, an economic recession, and many other issues. This essay outlines some advantages of market-driven reforms to the management of water resources in the western USA. Historical and contemporary western water resource issues are examined from economic, environmental, and social viewpoints. In all such contexts, it is argued that regulated water markets provide flexible and just solutions to western water dilemmas, and reallocations may provide much-needed additional water supply.