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Economics Explained

Could An Economy On Mars Ever Be Viable?

Sep 13, 2023
The podcast explores the challenges and opportunities of a mission to Mars, including accessing unlimited resources, the potential for a thriving economy on Mars, manufacturing in microgravity, and creating Earth-like living conditions in space.
19:28

Podcast summary created with Snipd AI

Quick takeaways

  • Establishing a viable economy on Mars faces significant economic challenges and may not be justified without tangible economic advantages.
  • Gaining access to unlimited resources in space could revolutionize economics, but current technology and cost constraints hinder resource harvesting.

Deep dives

The Economic Viability of Space Settlements

Setting up permanent settlements on celestial bodies like the moon and Mars face economic challenges. While there is no scarcity of technology to reach these locations, the lack of economic incentives hinders their exploration. Even though the technology has improved, since the moon landing, it has been over 50 years since humans have visited the moon. The cost of a mission to Mars is significantly higher and requires immense resources but lacks economic justification. Bragging rights and proving capability remain potential motivators for governments or private companies to invest in a Mars mission. However, establishing a permanent settlement in space or on Mars requires long-term economic viability. Without tangible economic advantages, such settlements might be nothing more than impressive science demonstrations.

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