Cosmo-Economics: Towards a Responsible Use of Outer Space

This book offers readers a coherent framework for understanding why economic activity in outer space cannot be assessed with terrestrial assumptions alone. By linking physical constraints, irreversible infrastructure, systemic risk, and governance, it equips readers to interpret both the opportunities created by the expansion of the space economy and the risks generated by congestion, concentration, and long-lived orbital assets. Its distinctive contribution is to treat outer space not simply as a new industrial sector, but as an economic environment whose physical characteristics reshape the meaning of scarcity, capital, location, risk, and market coordination. The analysis identifies three structural discontinuities—physical constraints on value formation, the irreversibility of orbital investment, and the cumulative nature of systemic risk—and develops an integrated framework around them. It also introduces original concepts such as the Orbital Fragility Threshold, Orbital Power, and Systemic Depreciation and extends conventional approaches to investment valuation and financial risk to the orbital context. This book moves from foundations to applications. It examines launch economics, reusable systems, satellite constellations, orbital infrastructure, in-space servicing, assembly and manufacturing, and the growing importance of satellite data. It then develops an Earth–Orbit DSGE model, analyzes orbital capital and congestion, explores the financial architecture of space activities, and addresses regulation, enforcement, infrastructure concentration, military and geopolitical dynamics. The final part considers the cislunar economy, in-situ resource utilization, space-based energy, lunar and asteroid activities, and the possible transition toward a multiplanetary economic system. Designed for researchers, graduate students, policymakers, regulators, and professionals working in space policy, finance, and industry, this book serves as a research reference, an advanced teaching resource and a framework for evaluating investment, sustainability and governance choices. Its interdisciplinary approach also makes it useful to readers interested in the interaction between economics, complex systems, space technology, and international institutions.