Science & Tech

The Moon should be privatised to help wipe out poverty on Earth, economists say

The Moon should be privatised to help wipe out poverty on Earth, economists say
Why the Moon Could Cause the End of the World By 2030 ...

Privatising the Moon is the next bright idea to help wipe out poverty on Earth, economists say.

According to a strange report by neoliberal think tank the Adam Smith Institute, the satellite should be divided into parcels of land and assigned to different countries to rent out to businesses, boosting the economy.

The economists also reckon this would boost space tourism, exploration and discovery.

Economic researcher Rebecca Lowe, who compiled the report said: "A clear, morally justified and efficient system for assigning and governing property rights in space would present vast benefits that go beyond financial rewards for people who would become owners.

"Such a system would incentivise responsible stewardship of space as well as opportunities for new scientific discovery and democratised space exploration.’’

Sign up to our free Indy100 weekly newsletter

This might be easier said than done, though. The Outer Space Treaty, drawn up at the United Nations in 1967, currently bans countries and individuals from owning property in space.

But they are still keen on the idea. The Institute’s head of research Daniel Pryor said: "Property rights play a key role in boosting living standards, innovation and human dignity here on Earth.

"The same would be true if we applied this logic to space which presents a unique opportunity to start afresh when designing effective rules of ownership.

"With more countries and companies competing in the space race than ever before it’s vital for us to move past the outdated thinking of the 1960s and tackle the question of extraterrestrial property rights sooner rather than later.’’

They are really thinking outside the box and the planet but we can't say we'd agree.

Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

The Conversation (0)