Evaluating Investment in Space Programs: A Case for Theoretical Pluralism

Abstract

A perennial question repeatedly asked since the early Mercury (USA) and Salyut (then Soviet Union) space programs has been variations on the theme of “how can the cost of space exploration be justified?” This question—which in broad terms constitutes the research question considered in this paper—continues to be directed toward space agencies and their governing institutions around the world. As the title of this paper suggests, in addition to the obvious financial implications, the extent to which funds are directed to space programs directly engages with matters of accountability and public policy. We argue that attempts to justify the cost of space programs have typically been framed on the basis of cost-benefit analyses underpinned by rational choice thinking. We underscore the necessity of incorporating alternative theoretical perspectives to achieve a more meaningful evaluation of the value of space programs. The resulting analysis extends to other public policy decisions involving substantial resource allocations.