THE ECONOMIC EFFECTS OF THE SPACE PROGRAM

Abstract

The purpose of this paper is to discuss the economic impact of the amazing space program presented in the preceding papers. My function is to view the space program objectively as an economist so as to assess its impact upon the Nation's economy as a whole and upon certain regions in particular. In order to be objective, I will not take the extreme view that our entire lives will be changed by this program overnight-we will not all be wearing air-conditioned Moonsuits in 2 years and commuting to work by individual miniaturized Rocketpacks. An attempt will be made to avoid the other extreme of thinking that the space program is the greatest boondoggle since the Pyramids; it is not merely a form of scientific leaf-raking on a gigantic scale. My definition of the space program includes the program of the National Aeronautics and Space Administration (NASA) and some work of other agencies doing related space exploration, particularly the Department of Defense. In essence, I hope to answer the question: What will NASA's program mean to the participants in the Nation's economy?