Space economy

Hubertus Bardt

No 43/2019e, IW-Kurzberichte from Institut der deutschen Wirtschaft (IW) / German Economic Institute

Abstract: It has now been 50 years since Apollo 11 landed on the moon. On 20 July 1969 (21 July German time), Neil Armstrong and Edwin 'Buzz' Aldrin became the first people to land on the moon. It marked a decisive victory in the space race between the United States and the Soviet Union. The Apollo program was not an economic project. By today's metrics, it cost over USD 140 billion (based on Wilford, 1969, 67). Meanwhile, aerospace is not only a government-subsidised business, but rather has also become attractive for private companies. The United States announced that it plans to send American astronauts to the moon again within the next five years (Sueddeutsche.de, 2019). Whether that will succeed is still unclear. The business community, however, is already searching for opportunities in space today.

Date: 2019
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