Outer space capitalism: The legal and technical challenges facing the private space industry

The private sector may need the Outer Space Treaty to be updated before it can make any claims to celestial bodies or their resources.

  • The Outer Space Treaty, which was signed in 1967, is the basis of international space law. Its regulations set out what nations can and cannot do, in terms of colonization and enterprise in space.
  • One major stipulation of the treaty is that no nation can individually claim or colonize any part of the universe—when the US planted a flag on the Moon in 1969, it took great pains to ensure the world it was symbolic, not an act of claiming territory.
  • Essentially to do anything in space, as a private enterprise, you have to be able to make money. When it comes to asteroid mining, for instance, it would be "astronomically" expensive to set up such an industry. The only way to get around this would be if the resources being extracted were so rare you could sell them for a fortune on Earth.
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Any attempt to propose a detailed alternative to the capitalist economic system in a short article could be seen as somewhat presumptuous.

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Sink or swim: How to survive waves of change in a fast-paced industry

Here's how to best position yourself for taking advantage of the unexpected.

  • Why are companies like Apple on top of the world while others like Blackberry have been relegated to a minor market share? Why is Netflix king and Blockbuster extinct? Netflix spotted a strategic inflection point and capitalized on it, says Rita Gunther McGrath.
  • A strategic inflection point is a shift in the external environment that changes the assumptions upon which a business is based—it could be technology, social norms, or a company's reputation.
  • People and organizations who see inflection points early and respond to them with a small investment or an experiment have an advantage. They will swim while their competitors may sink.
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These are the countries with the highest inflation

The global inflation rate is currently around 3.6%, but is much higher in these countries

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The rate of inflation has a big impact on your financial situation, affecting mortgage payments, savings and the cost of your weekly shopping.

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Can 'math trauma' hurt people's finances?

Math trauma can follow people beyond grade school to harm their prospects well into adulthood.

Photo credit: RJ Sangosti / The Denver Post via Getty Images
  • As much as 17 percent of the American population may suffer from math trauma.
  • Math trauma prevents people from engaging in financial activities and may harm their career prospects.
  • Experts agree that developing growth mindsets in students is critical to prevent further harm.
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