What would the economy of a future Martian society look like, and how could it be self-sustaining while being completely sovereign over Earth and its own economy?
This is what a recent study submitted to Space Policy hopes to address, as a sole researcher discusses a model that could be used to establish economic freedom on Mars, bringing both monetary and political stability to all settlements of the Red Planet is made possible.
This study has the potential to help scientists, economists, and world leaders better understand plausible systems of government used by human colonists on other worlds while preserving Earth’s sovereignty and its own governmental law and order.
Universe today discusses this incredible study with Dr. Jacob Haqq-Misra, director and senior researcher of the Blue Marble Space Institute of Science (BMSIS) and sole author of the study, regarding the motivation behind the study, presented key ideas in researching the importance of establishing a sovereign economic system on Mars, eliminating capital exchange between Mars and Earth, how Mars can become a sovereign entity of Earth after humans settle there, and how an economic system can be established on a sovereign Mars. Therefore, what was the motivation behind the research?
“My motivation was to build on the idealistic framework for an independent Mars that I developed in my book Sovereign Mars,” says Dr. Haqq-Misra to Universe Today. “In my book I describe five conditions for Mars to be an independent planetary state, a legal equal to Earth. In this new study, I develop a possible economic model that would be consistent with these five conditions.”
These five conditions outlined in Sovereign Mars include that all permanent colonists on Mars fully acquiesce in Earth citizenship and their interests; Earthlings cannot interfere in Martian affairs, including financial, political and social aspects; Earthlings who need permission from Mars to conduct scientific research on the Red Planet; only Martian citizens can own land; and any resources brought from Earth, including technological or other items, will remain on Mars permanently.
For the study, Dr. Haqq-Misra delves deeper into the economic facets of a future sovereign Martian government as he embodies these five conditions, focusing specifically on the financial aspects of such an economic system, including banking, currency, capital ownership, and Earthling tourism. .
He highlights how such a system builds on the mistakes of Earth’s current economic systems, which could potentially lead to both financial and political stability on Mars. He notes that this is an “idealistic but feasible model” with the goal of achieving full economic freedom for future Martian citizens from Earth. What were the main ideas that emerged from this research?
“The first idea is ‘full reserve banking’,” says Dr. Haqq-Misra to Universe Today. “Our banking system today allows banks to lend more money than they have on hand, which is known as a ‘fractional reserve’ system. This can lead to problems such as a ‘run on the bank’, where too many people try to withdraw their deposits at once, only to find that the bank does not have their money.”
Dr. Haqq-Misra continues: “The second idea is the spread of capital ownership. Many visions of space settlements envision something like a world space agency or some other centralized authority that could ensure justice and perhaps even serve as a way to redistribute wealth. But the centralization of sovereign power also poses significant risks for the abuse of such power.
Some arguments even suggest a somewhat Marxist approach to the centralized or government ownership of wealth-producing capital, which is then justly redistributed, but this again carries a significant risk of abuse and corruption. An alternative idea is to widely distribute the ownership of capital, rather than wealth. This means that ownership of companies, equipment and anything else that can generate wealth would be in a wider range of hands than today – ideally by everyone.”
Along with the above five conditions for a sovereign Mars, there will also be demands made by the entire reserve banking system on Mars, including all transactions remaining on Mars, no currency exchange with Earth, and the issuance of currency will be based on changes in the population.
All tourism on Mars will meet three conditions that coincide with the conditions of both a sovereign Mars and the entire Mars reserve banking system, including the fact that tourists cannot own capital on Mars, the ban on returning Mars money to the earth, and the lack of money. transactions of tourists, while services would be provided only through the exchange of goods.
On today’s Earth, currency exchange is the primary method of purchasing goods and services, with a total of 180 currencies recognized in 195 countries around the world. Although the value of each currency varies daily around the world, this system allows individuals from individual countries to own capital in other countries with minimal government interference. But what is the significance behind the complete lack of capital exchange between Earth and Mars?
“This is part of the idealistic framework of Sovereign Mars,” says Dr. Haqq-Misra to Universe Today.
“Preventing exchange between the two planets would allow Mars to maintain its maximum potential to develop new ideas in civilization, such as this economic model. In practice, these ideas could still be tried on Mars even if there is some exchange between the two planets, although this could lead to different results.”
The prospect of sending humans to Mars has been the subject of science fiction and countless scientific discussions for more than 100 years. this started with the Danish silent film A Trip to Mars and other films that continued throughout the 20th century, featuring current Martians or remnants of past Martian civilizations.
While films from the last decades of the 20th century and the early 21st century chronicled the first human journeys to Mars, most recently with the film The Martian, little has been discussed about permanent human settlements on the Red Planet.
The closest this idea came was in the television series The Expanse, which depicted the Martian Congressional Republic on Mars as a sovereign entity from Earth, complete with its own military and political hierarchy. However, the economic system within this government was not discussed in detail. But what steps need to be taken for Mars to become a sovereign entity after humans settle there?
“The biggest challenge is having enough infrastructure and resources to become self-sufficient on Mars,” says Dr. Haqq-Misra to Universe Today. “Some resources could be used on Mars, but not immediately, and actually making an independent Mars possible may require benefactors with long-term visions for humanity or even Earth, without the need for an immediate or proximate financial return. I call this ‘deep altruism’ in Sovereign Mars.”
Furthermore, regarding the importance of establishing a sovereign economic system on Mars and the steps needed to make this economic system last, Dr. Haqq-Misra told Universe Today: “We have many examples of economic recessions and collapses even in recent history. If space regulation is really to be a long-term undertaking, then we need economic ideas that can remain sustainable in the long term.’
Dr. Haqq-Misra continues: “The best way to establish this economic system would be for all the first colonists to agree on a method to implement such a system before actually arriving on Mars. Part of the value of contemporary thinking about Mars governance is anticipating such possibilities prior to the actual landing of humans on Mars. And thinking about governance on Mars can also help us better understand our governance and economic systems on Earth.”
Sending humans to Mars could happen within the next decade, but sending humans to live there could take decades, and establishing a sovereign Mars could take at least 100 years, along with settling and maintaining a sustainable economy separate from the earth. However, establishing protocols well in advance could lead to a smooth transition to an economic system on a sovereign Mars that is completely separate and free from Earth’s systems.
Dr. Haqq-Misra concludes by telling Universe Today, “I am working with a talented group of students through the BMSIS Young Scientist Program this summer to explore historical analogues for sovereignty on Mars. We hope to complete a number of new studies next year.”
Will a future sovereign Mars be able to successfully establish an economic system separate from Earth sometime in the distant future? Time will tell.
Source: www.universetoday.com
