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Mining in space could spur sustainable growth

Author

Listed:
  • Maxwell Fleming

    (a Division of Economics and Business , Colorado School of Mines , Golden , CO 80401)

  • Ian Lange

    (a Division of Economics and Business , Colorado School of Mines , Golden , CO 80401)

  • Sayeh Shojaeinia

    (a Division of Economics and Business , Colorado School of Mines , Golden , CO 80401)

  • Martin Stuermer

    (b Research Department , International Monetary Fund , Washington , DC 20004)

Abstract

Growth models with resources and environmental externalities typically assume that planet Earth is a closed economy. However, private firms like Blue Origin and SpaceX have reduced the cost of rocket launches by a factor of 20 over the last decade. What if these costs continue to decline, making mining from asteroids or the moon feasible? What would be the implications for economic growth and the environment? This paper provides stylized facts about cost trends, geology, and the environmental impact of mining on Earth and potentially in Space. We extend a neoclassical growth model to investigate the transition from mining on Earth to Space. We find that such a transition could potentially allow for continued growth of metal use, while limiting environmental and social costs on Earth. Acknowledging the high uncertainty around the topic, our paper provides a starting point for research on how Space mining could contribute to sustainable growth on Earth.

Suggested Citation

  • Maxwell Fleming & Ian Lange & Sayeh Shojaeinia & Martin Stuermer, 2023. "Mining in space could spur sustainable growth," Proceedings of the National Academy of Sciences, Proceedings of the National Academy of Sciences, vol. 120(43), pages 2221345120-, October.
    • Handle: RePEc:nas:journl:v:120:y:2023:p:e2221345120
    DOI: 10.1073/pnas.2221345120
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