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50 Colum. J. Transnat'l L. 253 (2011-2012)
Tragedy of the Space Commons: A Market Mechanism Solution to the Space Debris Problem

handle is hein.journals/cjtl50 and id is 257 raw text is: Tragedy of the Space Commons: A Market Mechanism Solution to the Space Debris Problem' Shearman & Sterling Student Writing Prize in Comparative and International Law, Outstanding Note Award Space has become an invaluable resource to mankind. GPS technology, satellite television, weather forecast- ing and a national defense network are examples of the many modern technologies made possible by orbit- ing satellites and space technology. Unfortunately, the international treaty regime which governs space usage treats orbital space as an open-access, common property resource. As a common property resource, space is susceptible to suffering from a tragedy of the commons. The most immediate threat to the space re- source is space debris. Created from a multitude of man-made sources, space debris orbits the earth with enough speed and momentum to damage or destroy any object in its path. In order to prevent space de- bris from rendering this important resource useless, it is necessary to alter the legal regime so that space is no longer a common property resource. This Note proposes that, in light of the peculiar characteristics of orbital space, a regulatory scheme based on market mechanisms is the best method to control the level of space debris introduced into orbit and thereby pre- serve the resource for ages to come. 1. Or, How a Law Student Fulfills His Childhood Dream of Becoming an Astronaut.

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