While both sides have their merits, further examination clearly concludes that the absolute privatization of organizations which intend to explore, research, or develop Outer Space will be the most effective and efficient way for humans to harness even a minute portion of the potential which outer space encompasses. Section 1- A Brief Overview of Economics: Private Funding vs. Public Funding “You cannot have development in today’s world without [the public sector] partnering with the private sector” - Hillary Rodham Clinton, former Secretary of State Before explaining the complexities of international outer space law and specific reasoning as to why private funding is the ideal match to space-related organizations, it is important to address some basic pieces of economics, specifically the definitions and implications of private funding and public funding. In business terms, public funding refers to monetary funds which are generated by the government in order to provide goods or services to the public. In regard to space, existing publicly funded organizations which are include space-focused government sectors, such as NASA (The United States), RFSA (Russia), and the ESA (The United Kingdom). While these organizations have been largely successful, there are definite ways in which relying on government allotted funds have stunted potential expansion. For one, because these space organizations receive the entirety of their funding from the government, they are required to ensure that their research and goals align with their respective nation’s political and military goals. This utter dependency on the government can often cloud the focus of projects, and makes for an overall disjointment that is not present in space enterprises in the private world. Furthermore, public entities do not take advantage of the commercial opportunities that space offers, leaving an untapped market for potential profit. In contrast, the private sector is the part of the economy not regulated by government oversight; it includes personal and corporate divisions. Often private companies are funded either by a large pool of sponsors, or by a few wealthy investors willing to take on the risk of the investment. Even now, there are a handful of private companies, such as SpaceX, Virgin Galactic, and Planetary Resources, who have begun to venture into the world of commercial Space. In fact, private commercial space enterprise is in a position to cheaply and ostensibly fairly, exploit much of what Space has to offer (Meyer 261); making the private sector the ideal fit for the necessary growth of space-related organizations. Section 2- A Brief Overview of Space: A Massive Universe With Even Greater Potential “The scale of the universe is enormous compared to the microscopic scales of quantum theory. But when the universe is the Planck size, a billion trillion trillionth of a centimeter, the two scales are the same, and quantum theory has to be taken into account.” Stephen Hawking on the scale of the universe For millennia, the human world has been entranced by outer space. In ancient times, people would use religion to explain the phenomenons
While both sides have their merits, further examination clearly concludes that the absolute privatization of organizations which intend to explore, research, or develop Outer Space will be the most effective and efficient way for humans to harness even a minute portion of the potential which outer space encompasses. Section 1- A Brief Overview of Economics: Private Funding vs. Public Funding “You cannot have development in today’s world without [the public sector] partnering with the private sector” - Hillary Rodham Clinton, former Secretary of State Before explaining the complexities of international outer space law and specific reasoning as to why private funding is the ideal match to space-related organizations, it is important to address some basic pieces of economics, specifically the definitions and implications of private funding and public funding. In business terms, public funding refers to monetary funds which are generated by the government in order to provide goods or services to the public. In regard to space, existing publicly funded organizations which are include space-focused government sectors, such as NASA (The United States), RFSA (Russia), and the ESA (The United Kingdom). While these organizations have been largely successful, there are definite ways in which relying on government allotted funds have stunted potential expansion. For one, because these space organizations receive the entirety of their funding from the government, they are required to ensure that their research and goals align with their respective nation’s political and military goals. This utter dependency on the government can often cloud the focus of projects, and makes for an overall disjointment that is not present in space enterprises in the private world. Furthermore, public entities do not take advantage of the commercial opportunities that space offers, leaving an untapped market for potential profit. In contrast, the private sector is the part of the economy not regulated by government oversight; it includes personal and corporate divisions. Often private companies are funded either by a large pool of sponsors, or by a few wealthy investors willing to take on the risk of the investment. Even now, there are a handful of private companies, such as SpaceX, Virgin Galactic, and Planetary Resources, who have begun to venture into the world of commercial Space. In fact, private commercial space enterprise is in a position to cheaply and ostensibly fairly, exploit much of what Space has to offer (Meyer 261); making the private sector the ideal fit for the necessary growth of space-related organizations. Section 2- A Brief Overview of Space: A Massive Universe With Even Greater Potential “The scale of the universe is enormous compared to the microscopic scales of quantum theory. But when the universe is the Planck size, a billion trillion trillionth of a centimeter, the two scales are the same, and quantum theory has to be taken into account.” Stephen Hawking on the scale of the universe For millennia, the human world has been entranced by outer space. In ancient times, people would use religion to explain the phenomenons