The Probable Contribution of the Post-2030 Space Industry to Global Economic Development

Abstract

The economic crisis that arose during 2008 (often termed as the Great Recession) emphasised the systemic deficiencies of the global economy and its financial subsystem. It also once again highlighted the chaotic, and therefore unpredictable, nature of markets and the lack of foresight and strategic management of the markets (and thus the economic and financial system). It is trite that an equitable, efficient, environment-friendly and robust economic and financial system that can withstand rare events is of the utmost importance for the sustainable development of the human race and the ecology as a whole on planet earth. Therefore, future consciousness that will bring about this idealised state is an important endeavour (the idealised state or preferred future). The Sustainable Development Goals (SDGs) adopted on 25 September 2015 is an endeavour to implement a future consciousness and plan to build a better future. In the event that the SDGs are wholly or even partially achieved, the question is what is next? This enquiry specifically focuses on what the world economy may look like and what role the global space industry may play in the further development of the global economy. Given the technological drivers that have given rise to previous market developments and upswings, like the sail ships with which new physical spaces were colonised or the more recent information revolution that is still colonising digital space, this enquiry interrogates the probability of the modern global space industry serving as a techno-economic driver in the establishment of an advanced global economy with systems in space feeding into the planet’s sustainable development and management.