Would you buy a plot of land on the Moon?
It’s a crazy idea, but some believe it could save the world. Here’s why.
Most people live in poverty. In fact, eight out of ten people on the planet live on less than $30 a day. Whilst global poverty has decreased significantly in recent decades, it’s still an issue that needs to be addressed. Enter the moon.
The Adam Smith Institute recently suggested selling off the Moon could alleviate poverty here on Earth. If we divide it up between countries, they can rent it out to businesses or individuals, which would boost their economies and help the poor within their borders. Plus it could boost space tourism, developing new materials and manufacturing innovations.
“Property rights play a key role in boosting living standards, innovation and human dignity here on Earth” their Head of Research told The Guardian.
Will it happen?
The United Nations Outer Space Treaty of 1967 states: “Outer space, including the Moon and other celestial bodies, is not subject to national appropriation by claim of sovereignty, by means of use or occupation, or by any other means.” In theory, this treaty is binding on all nations that have signed it — but in practice, it has no teeth. As recently as 2020 the US government said that it consider outer space “a legally and physically unique domain…[and not] a global commons.” There is technically nothing to stop anyone exploring this final frontier.
It also doesn’t mean a private company can’t lay claim to land on the Moon. After all, it’s not illegal for Elon Musk or Jeff Bezos or Richard Branson or someone else to own land on Mars. This is basically what Dennis Hope did in 1980 when he registered a trademark for lunar property and founded Lunar Embassy, a company that sells acreage on the Moon alongside various other celestial bodies and planets. Its slogan: “Buy land on the moon before somebody else does!”
Why this idea now?
Quite simply, there is an excess of capital looking for places to invest in order to grow. So for example, if you’re seeking compound returns of four percent a year, over time the amount of expansion required to deliver this becomes enormous. You need spaces to expand into. But as the social geographer David Harvey argues, capitalism is running out of space (i.e. there are no more ‘unsettled’ lands to conquer). Thus excess capital creates new imaginary spaces to conquer. The deserts of the Arabian Peninsula, the metaverse, NFTs, crypto…and now the Moon.
What should we do?
This discussion is timely. We all know existing property ownership frameworks are not going to alleviate poverty and inequality left as they are. So we need to advocate for different ones. Ones where benefits accrue for the common good, not individual gain. Where land is no longer a commodity, but seen as all of ours to protect and cherish. It is all of ours in common.
What if we could leverage this process to drive excess capital into socially useful and environmentally friendly spaces instead? Surely one way to do this is through tax and other incentives.
For now, the Outer Space Treaty agreed in the 1960’s prevents any commercialisation of the Moon, but as recent events have shown, treaties don’t mean much these days.
What do you think?
