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Political economy refers to the study that deals with production and it involves selling, and purchasing, based on the rules that the government lay down and is controlled by the budget in a given country. In this case, political economy has been noted to have a close connection with the rise of the political scientists and the economists who deal with politics that relate to both the conflicts and interests that accompany the issue of promoting the water resources.
This has emerged to the political scientists to develop an approach that will aid in developing the resource programs that will pave way for plans on how to use the water effectively. On the other hand, the economists control the market mechanisms and ensure that the users get access to the resource. Human beings perceive water to be one of God’s creations that is awesome. We treat water as a special commodity bearing its magic in relation to its flexibility, beauty and our dependency on it to survive above all, water is life. When people privatize water, they take effective measures like possessing their own water meters where they control their own bills from home. Therefore, this way of privatising water has lead to cheaper means that we can manage.
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Water privatization can also result to improper protection and maintenance by the experts as compared to the public supply that is often checked. When water has become a public good, people for instance the economists take it as a benefit to the society with no price issues attached. Therefore, a supplier can never reap all the benefits of water but in this case, the society benefits. Marketing of water can be successful made through the initiation of company rights that will educate people on its essence. This is by setting out rights that clearly defines its image and the management to assist in marketing.
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