For starters, consider the fact that the degree of market failure varies from region to region: the difference between the price of water and its true marginal cost must be higher in dry places than wet ones.

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The front page, as always, was filled with three- and four-line advertisements for Newcastle, Silkstone, or Wall's-End coal, Bailey's elastic stockings, ladies' abdominal belts, Pulvermacher's Patent Galvanic Chain Bands, Antakos corn plasters, Iceland Liniment for chilblains, and "Want Places" appeals from wet nurses, scullery maids, and cooks, each willing to supply testimonials about their skills and finer qualities.

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The electricity was going out in places, too, thanks to the wet, heavy snow downing trees and power lines.

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So, cold, dry places should warm much more than warm, wet ones.

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Utah is blessed with powdery snow that is slippery without being particularly wet, a resource that it shares with very few other places.

ECONOMIST: Lexington