We are pleased to announce we have published a new article at Journal of Transhumanism. We expect to announce another article within the next month. See: http://www.transhumanist.com/
While popular science writers typically describe the benefits to be derived from their favorite very large space development project in detail, their treatment of the crucial initial capitalization of such projects is typically sparse or implausible. Capitalization is a crucial problem for these projects because the total capital investment required is very large and the investment takes a very long time before producing economic returns. "Chunky" investments are unattractive to most private investors and lenders. Very large space development projects are best understood as massive public works projects which are necessary to open frontiers. Despite the libertarian sentiments in much of the popular science writing on very large space development projects, government would likely have to play a large role in capitalizing such projects.
Robin Hanson rhanson@gmu.edu http://hanson.gmu.edu
Asst. Prof. Economics, George Mason University
MSN 1D3, Carow Hall, Fairfax VA 22030
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