Can New Discoveries of Raw Materials Destroy Markets? No.

From: David German []

Sent: Tuesday, December 31, 2019 1:25 PM


Cc: Clifton Knox

Subject: Asteroid mining

This is a short video, if you could watch and examine this, what would be your response to Keith Woods?

From: Walter Block <>

Sent: Wednesday, January 01, 2020 1:04 AM

To: ‘David German’ <>

Cc: ‘Clifton Knox’ <>

Subject: RE: Asteroid mining

This video makes the point that raw material discoveries can destroy markets. Nonsense.

No. Discoveries just lower the price compared to what it what otherwise be. Only governments can destroy markets, not discoveries of new supplies. This is basic economics 101. New shale techniques for oil lowered its price. No destruction here. Just cheaper gas for everyone.

Walter E. Block,

From: David German []

Sent: Tuesday, December 31, 2019 9:28 PM

To: Walter Block

Cc: ‘Clifton Knox’

Subject: Re: Asteroid mining

Do you think like a Bezos type situation where raw materials flooding the market will destroy the market?

On Tuesday, December 31, 2019, 5:06:55 PM CST, Walter Block <> wrote:

Dear David:

I loved the pictures and, his accent. Both lovely.

As for the other aspects of it, I wish he would take my courses at Loyola, and/or, read this book, in which I discuss asteroid mining.

Nelson, Peter Lothian and Walter E. Block. 2018. Space capitalism: the case for privatizing space travel and colonization. Palgrave Macmillan;

You can access my appearance here:;;

Maybe, just listen to my cspan interview on it?

To answer your question, no one who mentions libertarianism is all bad, even if he does so fallaciously. This guy mentions libertarianism. So I support that aspect of his presentation.

Best regards,



2:34 pm on April 30, 2020