Untold riches from Asteroid mining- The problem no one is talking about
Asteroid mining could unlock untold riches and thorny ethical problems. Are we ready as we race to the launch pad? Asteroid mining is coming sooner than people realise. Several asteroid mining companies have developed serious business cases. Demonstration missions could occur within a few years for interested, patient and well-funded investors.
The most enthusiastic advocates of asteroid mining suggest it could unlock trillions of dollars of wealth; more sober analysts: tens of billions.
Space resources are occasionally compared to those of the sea. But the barrier to entry for the ocean is a fishing pole or net or the ability to dive. Asteroid mining, by contrast, requires advanced technology and large amounts of starting capital.
The level of wealth required to pursue an asteroid mining venture is concentrated in the hands of a very small number of people. Large disparities exist between those able to take advantage of the resources and those most at risk of harm by exploitation.
It also seems possible, if not likely, that the earliest successes in asteroid mining will be the only successes. Competition with established companies will be an additional barrier, and a monopoly or cartel may develop.
Daniel Pilchman, a legal philosopher, says asteroid mining is likely to increase inequality on Earth. He argues it will therefore be an unethical practice, unless it can be regulated to bring benefits to all. James Schwartz, also a philosopher, says mining asteroid resources is unlikely to “significantly improve the well-being of average human beings”, and by extension, would be unethical. He assumes those resources would be used to support space-based rather than Earth-based needs, a conclusion not everyone agrees with.
Cosmologis
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