Privatization and deregulation of industries such as airlines, trucking, and telecommunications have reduced costs and created new economic opportunities. The communications and information revolution has transformed the economy and society. It is time to unleash the dynamics of free markets in the space sector.

Entrepreneurs already are providing private launch services, satellites, and modules for broadcast and Internet services. Other planned innovations include collecting and beaming energy to Earth from orbit, a lunar rover sponsored by Radio Shack, and even space adventure travel for private citizens. But such profitable plans require radical reforms of America's space policy and the role of NASA.

Walker

Poole

Tumlinson

At the Cato conference, former representative Bob Walker, a science adviser to President George W. Bush, will discuss the future of space policy. The first panel will review the development of America’s space program and NASA’s bureaucratic and cost problems. The second panel will examine the legal and regulatory barriers to private space activities and the lessons learned from deregulation and privatization of other industries. Our luncheon speaker will be Fred Abatemarco, vice president of Space News and editor of Space.com. The third panel will explore current and potential private space efforts. The final panel will discuss the various reforms being considered on Capitol Hill, how the International Space Station might be run by the private sector, and what kind of a private property rights regime is necessary if space is to be the next free-market frontier.