Source: Law & Liberty
by G Patrick Lynch
“The critique of private space companies by many on the left is frequently that those billions could be better spent helping the poor or other philanthropic goals. Of course, the Hayekian answer to that question is we don’t know. Predictions about outcomes based on investments are speculative, but there are two points in favor of the space billionaires overusing public money in the pursuit of opening up space. First, the billionaires have track records building successful institutions and seeing market opportunities. That doesn’t mean private sector investment is always right—take the Segway as a good example of that. But they have done it before. The second reason is that private money is much more agile and responsive than public money.” (01/08/25)