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Should Space Be Privatized? With William Megginson
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Should Space Be Privatized? With William Megginson
In this episode of 'Questions in Finance,' Kate and Veljko explore the space economy with Bill Megginson, Professor and Price Chair in Finance at the University of Oklahoma. They discuss the history, financing, and future prospects of space exploration, focusing on the pivotal roles played by private enterprises like SpaceX and government entities such as NASA. The conversation highlights the dramatic reduction in launch costs, the rise of satellite technology, and the competition between the US and China. They delve into the financing challenges of space ventures, the impact of venture capital, and the broader economic implications, touching on topics from military applications to the pursuit of knowledge and technological spinoffs. The episode concludes with insights into the future roles of commercial and government sectors in space activities.
Timeline:
00:00 16 Psyche and Quadrillions of Dollars
07:44 Spaceflight Economics
10:19 Today's Guest, Bill Megginson
11:03 Should the Spaceflight Economy be Privatized?
15:02 Dogs. And Cats.
16:17 Basics and Stats of the Space Economy
21:23 A Bit of History
27:17 Costs and Benefits
35:06 Private-sector Efficiency, SpaceX
45:08 From the Outer Space Treaty to Artemis
49:13 The Race to Mars
53:58 Space Force!
59:44 Venture Capital in Space
01:10:55 Space Mining, Technology Transfer
01:19:16 Space Jobs
01:34:00 The Geopolitics of Space
01:41:26 Summarizing
Bibliography:
Megginson, William L. "The Financial Economics of Spaceflight." Available at SSRN 4901992 (2024).
Weinzierl, Matthew. "Space, the final economic frontier." Journal of Economic Perspectives 32, no. 2 (2018): 173-192.
Other Sources:
Bureau of Economic Analysis data on the Space Economy: https://www.bea.gov/data/special-topics/space-economy
Soundtrack:
The soundtrack is based on "Walk on a Funky Street" by MondayHopes. Thanks for the music and keep up the good work! Use is under the Pixabay Content License.
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