Economic Effects of Regulating the Space Mining Industry

In the words of the famed astrophysicist Neil DeGrasse Tyson, "the first trillionaire there will ever be is the person who exploits the natural resources on asteroids." Space mining may appear to be a far-away fantasy, but some entrepreneurs are already looking to be among the first movers in this industry. Much like how the great industrialists of John Rockefeller and Andrew Carnegie made use of the ever-expanding American frontier to fuel their extractive industries, future business magnates will harness the power of asteroids and other celestial bodies to turn a lucrative profit. Perhaps unlike gilded-age industrialists, however, potential space entrepreneurs are being hampered by obsolete regulation.

Matias Litewka is a Junior in the Walsh School of Foreign Service majoring in International Politics with an International Law focus and is a Global Business Fellow as well as a French minor. He has always been fascinated by space and hopes to eventually work in commercial space law.

Caroline Finn is a Junior in the College studying Economics with minors in History and Business Administration. She is passionate about the future of commercialized travel in space, as well as the evolving cooperation between private and public sectors as the new era of space exploration develops.

Tommy Hugus is a Sophomore in the McDonough School of Business studying Finance and Spanish. He has always been interested in exploring the intersection between space-centric start-ups and the demand for commercial space travel.

Lauren May is a Sophomore in the Walsh School of Foreign Service studying Science, Technology and International Affairs with a minor in Computer Science. She is interested in the securitization of emerging technologies which will be crucial in the upcoming age of space exploration.