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...using this approach in other areas of environmental management, so why not apply it here?

Let's take a slightly broader look at the problem. First, aging dams are only the beginning of what is to come. The U.S. population grew rapidly in the 20th century, but the rate of infrastructure expansion was far greater. Bridges, sewer pipes, airports, and dams were all primarily built in the mid-20th century, and we are entering the decades when these geriatric infrastructure systems will need to be reexamined. Although the public often ignores infrastructure, news of the past two years has been surprisingly dominated by it: failure of levees in New Orleans, bridge collapse in Minneapolis, steam pipe explosion in New York City. Recently it seems that our infrastructure, the sinews of society, is collapsing around us.

What now? I argue that a necessary first step is to assign clear ownership and associated liability and responsibilities for infrastructure. In addition to or instead of Workman's cap-and-trade proposal,...

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