Another way, I have argued, would be to establish a framework that allows individuals and groups to acquire conditional legal property rights in space, in a Georgist-inspired market system (Lowe, 2022a, 2022b). In my opinion, the competitors will retain the full profit they make from the permitted use of their sites but the competition for the temporary ownership of these sites will involve paying a ‘rent’, the rate of which will vary according to supply and demand, and a partial reduction in relation to the meeting of various conditions inspired by the Lockean property provisions of ‘adequate and good’ ( eg if the use of space contributed to the eradication of poverty) and ‘spoilage’ (eg efforts). This tax will be paid into a managed fund so that an increasing number of people and groups can compete for space, investing in space innovation.
That’s from Rebecca Lowe’s new article, about the economic value of space. The excerpts are:
Lowe, R. (2022a). Space Invaders: Property Rights on the Moon. The Adam Smith Institute. https://www.adamsmith.
org/research/space-invaders
Lowe, R. (2022b). Space is an opportunity to rethink property rights. Reason, December, https://reason.com/
2022/11/15/space-opportunity-to-rethink-property-rights/
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