Some left-wing ideologues reject space exploration altogether—especially private space exploration—while others dream of a planned economy in space or even socialism. We should not underestimate the danger of such ideas. They have already caused enormous harm on Earth. Around two dozen socialist experiments have failed over the past 100 years. Every single one. Without exception. Yet the failed ideas of central planning and socialism have become popular once again.

In his 2022 book “Space Ethics”, Brian Patrick Green, one of many “space ethics experts,” insists: “However, commercial and industrial access to space… should not be a free-for-all. Instead, these private organizations still need to be regulated and still need state guidance… it is the duty of the public sector – governments, states, and international bodies like the UN – to regulate the private sector for the sake of defending the common good for all on Earth and in space…”

There is nothing fundamentally wrong with regulation, but unfortunately many of those who vehemently advocate it do not have the creation of a clear legal framework for competition in mind; they want something completely different. James S. J. Schwartz, another prominent “space ethicist,” outlines his vision for a potential regulatory mechanism to govern mining in space. He calls for an international body—a scientific panel—to be convened by the UN to oversee access to celestial bodies and areas thereof. Proposals for mining, he argues, would first have to be submitted to the panel for approval. If approval were granted and resources extracted, Schwartz explains, these resources would then have to be distributed fairly by the panel, or........

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