Water Scarcity Clock to Warn Scientists of the Impending Doom!

In August 2019, the Water Scarcity Clock was launched at World Water Week, an annual conference where global water issues are discussed in order to facilitate the exchange of views on the global water crisis. The Water Scarcity Clock is a web-based tool which provides real time information on clean water and sanitation from countries around the world.

“Water Scarcity is the lack of sufficient available water resources to meet the demands of water usage within a region” 

The clock was developed by the International Institute for Applied Systems Analysis (IIASA), the World Data Lab, and the German development agency GIZ, with the aim of allowing global policy makers to access real-time information on water stress and scarcity which can then be used to make key decisions on policy to combat the worsening crisis.

Water Scarcity could be caused by a number of different reasons. Physical water scarcity refers to a physical shortage of water, often due to changing climatic conditions. Economic water scarcity refers to a shortage of water as a result of institutional failures. In this case, an area may have an abundance of water but there is a lack of adequate infrastructure supplying the local population.

Water Scarcity is very real. Scientists predict that by 2050, 5 billion people around the world in both LDCs and MDCs could suffer water shortages.

Think like an Economist!

Q1: Why might water scarcity exist to a greater extent in some regions than in others?

Q2: Explain how governments around the world could attempt to deal with the problem of water scarcity.

Q3: Using this article and your knowledge of economics, assess the impact that Water Scarcity is likely to have on different groups of people around the world.

TheCuriousEconomist

Recent Posts

Apple Faces Criticism Over New Ad Campaign

Apple's latest advertising campaign, intended to highlight the creative potential compacted into its new iPad,…

6 days ago

Germany Unemployment Forecast for a Decade High

Germany is poised to witness a significant rise in unemployment, reaching levels not seen since…

2 weeks ago

India Set to Overtake Japan as World’s Third Largest Economy by 2025

India is poised to surpass Japan as the world’s third-largest economy by 2025, with a…

2 weeks ago

UK Aiming to Snub Out Smoking For Good

In a bold stride towards public health, the UK Parliament has recently advanced legislation aimed…

4 weeks ago

China’s Economy Surges with High-Tech Manufacturing Boost

China’s economy demonstrated a stronger-than-anticipated performance at the beginning of the year, primarily fueled by…

1 month ago

CHIPS act to fuel Samsung’s Texas Expansion

In a move to bolster the United States' semiconductor capacity, the CHIPS Act has earmarked…

1 month ago