Celestial anarchy: a threat to outer space commerce?

The wealth-creating potential of outer space commerce is tremendous. Yet an ominous feature of the celestial environment seems to threaten the ability of outer space commerce to achieve its potential: celestial anarchy. In outer space, much as in international space, no government has sovereignty. T...

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Bibliographic Details
Published in:The Cato journal 2014-10, Vol.34 (3), p.581-581
Main Authors: Salter, Alexander W, Leeson, Peter T
Format: Article
Language:English
Subjects:
Analysis
Anarchy
Commerce
Commercial law
Commercial space ventures
Comparative Advantage
Comparative advantage (commerce)
Cooperation
Economic Problems
Economic theory
Government
Individuals
International
Interstellar communication
Jurisdiction
Laws, regulations and rules
Private property
Property Rights
Right of property
Sovereignty
Space
Threat
Threats
Trade
Treaties
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Summary:The wealth-creating potential of outer space commerce is tremendous. Yet an ominous feature of the celestial environment seems to threaten the ability of outer space commerce to achieve its potential: celestial anarchy. In outer space, much as in international space, no government has sovereignty. This fact is enshrined in the 1967 Outer Space Treaty, signed by the spacefaring nations. Article II of the treaty prohibits signatory nations from extending territorial jurisdiction to celestial bodies. The authors' comparative advantage is analyzing the economic problem that celestial anarchy seems to, but, as their analysis suggests, does not, pose for sustaining enforceable property rights in outer space. They think it is worthwhile to touch briefly on the implications that their analysis may have for the potential political problem posed by celestial anarchy. That problem is: There may be political consequences to private individuals' securing property rights in outer space if these individuals' claims run contrary to political actors' interpretation of Article II of the Outer Space Treaty. Adapted from the source document.
ISSN:0273-3072
1943-3468