Without property rights in space, one of the most important economic incentives for the commercial development — and ultimately the settlement — of celestial bodies is missing. The question of whether private individuals or companies may acquire property rights remains unresolved. The absence of property rights is one important reason why humanity has made less progress in the exploration and development of space than many expected. (Image credit: Interlune)Contrary to a common misconception, property rights did not initially emerge through formal acts of government imposed from above. Long before the official ban on private farming was lifted in 1982, peasants across China spontaneously reintroduced private ownership in defiance of socialist doctrine.