RENEWING THE DREAM: How Free Market Principles Can Enable Commercial Space Development

ABSTRACT

This paper argues that given government budgetary constraints, the private sector must shoulder the burden of enabling commercial space development. This requires not only significant cost reductions, but also the development of a product whose cost-effective manufacture is exclusive to the space environment. It is an immutable law of free markets that commercial success attracts competition. Competition drives up innovation and lowers costs. As commercial space missions become increasingly profitable due to increased efficiencies, even more businesses will clamor to enter the market, further driving down costs.

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