Economic challenges of financing planetary defense #45

Abstract

This chapter examines analyses that have been used to assess various types of large-scale economic risks that could apply to the global economy and attempts by such groups as the World Economic Forum to examine what the impact of various types of “Black Swan” catastrophes might be. In particular it indicates why economic systems are generally not well equipped to address major global disasters with worldwide impact that also have a very low probability of occurrence. In light of economic scarcity, conflicting political priorities, and a number of other factors, there is currently little likelihood that a systematic economic response mechanism or a global disaster response fund will be created within the United Nations system or any other global institution. The general conclusion reached is that the evolution of new types of space technologies that might be developed for other purposes such as space debris removal, on-orbit servicing, etc. – may represent the most logical way forward.