The early years of the twenty-first century have seen the rise to prominence of private-sector American spaceflight. The result is a new phase of space development—one where human spaceflight is no longer the exclusive domain of governments, but an activity increasingly driven by the interests and motivations of individuals and corporations. In order to understand this phenomenon, we need to examine the long-run economic history of American space exploration. This book examines three critical phases of that history. The first phase is the financing and construction of American astronomical obs ... More

The early years of the twenty-first century have seen the rise to prominence of private-sector American spaceflight. The result is a new phase of space development—one where human spaceflight is no longer the exclusive domain of governments, but an activity increasingly driven by the interests and motivations of individuals and corporations. In order to understand this phenomenon, we need to examine the long-run economic history of American space exploration. This book examines three critical phases of that history. The first phase is the financing and construction of American astronomical observatories from Colonial America to the middle of the twentieth century. The second is the career of Robert Goddard, the American father of liquid-fuel rocketry, whose efforts constituted the world’s first spaceflight development program. The third is the American political history of the Cold War ‘Space Race’ and subsequent NASA human spaceflight initiatives in the twentieth century. Examining these episodes from an economic perspective results in a new view of American space exploration—one where personal initiative and private funding have been dominant long-run trends, where the demand for impressive public signals has funded large space exploration projects across two centuries, and where government leadership in the field is a relatively recent phenomenon.