Volumes of Space will Soon Command a Rent
The volumes with the greatest value will create the greatest demand for the limited volume of valuable space available.
Ultimately, the most valuable volumes will command the highest rents. Just like back on planet earth. Nothing will be different. Things will proceed as normal.
Heard it before? Yes! Right here on the earth below your very feet. We just call it land area, not space volume.
The familiar term 'location, location, location' still applies for identical reasons though.
The term space value will be used instead of land value. Space volume instead of land area. 3D versus 2D.
In economic terms, space volumes are still considered 'economic land' for use in pricing and measurements. It's just that space value is measured in volume not area.
The return to the use of space volumes - the income stream from space ownership, will still be called an economic rent. Or more commonly, just rent.
Unintelligent people will say "but space is unlimited, the rental will tend toward zero". Avoid these people, they will bring harm to your household and descendants. Seriously! Avoid them like the plague.
Just like land values on earth, rent is not based directly on the area itself which can be negative value if nobody wants it. And there's a hell of a lot of this poor land of course. Where everyone really wants to be in space will be ultra limited. And that volume will be right next to where everyone else wants to be too, because it's already been improved to value by the whole community already there. And this will be limited in size, just like on the earth, say in a city.
This very limited value is measured economically, in rent. It will be identical in space for identical economic reasons. There is no better way, indeed no other useful way, to measure how well an economy is doing than if its common stock of valuable land and now space, is growing or declining. Measured in the relative price of rent.
It's only the first pioneer who will not notice this. Because there's no competition yet for the limited value space. And this 1st one is the entire community so was all added value created by them? Well there is no rental value yet if there's only a tenant and no counterparty owner to pay it to except for God.
But when the second pioneer arrives and sets up shop next door, the community has doubled in value potentially and now does have multiple tenants. Meaning the 1st will only be able to create nominally 50% of the newly emerged space rental value.
By rights the 1st pioneer cannot justly claim 100% or sell it outright for a capital sum. He did not create that new value alone. Both did by virtue of the second one appearing. And both benefit obviously - the space land has suddenly acquired an economic value.
Be careful here. The improvements - the capital, made by the first do still by rights belong to the 1st. Just not the space rents created equally by both which though very real do not exist materially. And only appear during the exchange of things later.
Space, just like land on the earth, is not capital. Unless you still believe in slavery. Which many will still try to convince you is a good thing.
Unintelligent people will try to call space value capital. In much the same way as they used to describe chattel slaves(today referred to as corporate employees). This is because unconsciously we do actually see them as slaves who can be exchanged just like food, or fuel. Both the left and the right wing planet savers are caught up eternally and equally in this pathology, in spite of the euphemistic spin.
Most of space today has little value. A bit like land in the Sahara. Which maybe has negative value.
But the first business which can get there and use it in the course of successful productivity will be in an excellent monopoly position.
Because the next business wanting to make a living in space will be in direct competition with the 1st pioneer. And where is the guaranteed space location this second pioneer will choose to build their product?
I'll leave that one to you to figure out, if you're open minded enough the answer will be easy for you. If you're possessed by any ideology at all, you will never know, not being able to understand.