Economics class video — Water: too precious to be just another commodity?
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here.
The Economic Problem, Privatisation and Market Failure
Click to watch the short video below and then answer the questions:
Using the case study of water, describe what the economic problem is
What is privatisation and what were the arguments for privatising the water industry in the UK?
Given the information in the video, what market failures have arisen within the UK water industry?
Many have argued that the next major war will be fought over water resources. How likely is that claim given the information about new technologies at the end of the video?
Gavin Simpson and Pete Clift, Economics In Ten podcast