Beyond Earthly Laws: Forging Property Rights in the Cosmos
The commercial development and settlement of space are currently hampered by the absence of clear property rights. While the 1967 Outer Space Treaty prohibits national sovereignty claims, it remains ambiguous on private ownership. This article explores how historical precedents, from the American West to post-communist economic reforms, suggest that property rights often emerge spontaneously from grassroots efforts before formal legalization. It proposes a provocative future where private entities like SpaceX could acquire practical ownership of celestial bodies, fueling a new era of cosmic entrepreneurship and unlocking the vast economic potential of the universe through innovative financial models like Real Estate Investment Trusts (REITs).