From: Robin Hanson (rhanson@gmu.edu)
Date: Wed Nov 17 1999 - 12:31:26 MST
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/
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John Hickman, "The Political Economy of Very Large Space Projects",
Journal of Transhumanism, Volume 4, November 1999.
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.
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Robin Hanson rhanson@gmu.edu http://hanson.gmu.edu
Asst. Prof. Economics, George Mason University
MSN 1D3, Carow Hall, Fairfax VA 22030
703-993-2326 FAX: 703-993-2323
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