“What were we thinking?” Space Commercialization, 1960–1990

From the late 1960s through the 1980s, waves of space commercialization emerged, spurred by optimistic studies predicting huge markets and growing federal support, only to run aground on unforgiving technological and financial reefs. That gulf between great expectations and actual accomplishments exemplified the normal failure-filled evolution of new technologies and markets. Nonetheless, an ecosystem supportive of commercialization began to develop, including numerous NASA and non-government studies and space-oriented business conferences, organizations, and journals. Rocket science was hard, but rocket engineering and economics proved even more challenging.