There are some real challenges to commercialize space. While diversification reduces some risks caused by natural market factors, new difficulties can still emerge simultaneously. Ultimately, diversification and private sector exploration will facilitate new economic possibilities for the whole world, but properly utilizing such opportunities requires legal oversight in some way.
THE LAWLESS FRONTIER: IMPOSING SPACE LAWS AND REGULATIONS
The truth is, the law will take a long time to catch up to the reality of “New Space.” After all, it’s easy to see why new rules are becoming necessary: billions are being spent in the nebulous legal vacuum of space, which means activities are happening that could prove harmful to the commons of outer space. Improper legal parameters here may well spark conflict between nations.