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Economy of the 21st Century (The Second Renaissance)

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Economic Booms

The Space Boom

In 2015 the first real revenues from Mariner Space Development's mining operation son Eros began to yield serious gains. As of their FY 2016 market projections, MSD announced a total profit margin of 3 trillion dollars in sold assets, the largest single year of growth of any company at the time. These funds were used by MSD and Generations Enterprises to fund a number of R&D, venture capital and Infrastructure projects during the largest economic crash in human history (see the Collapse of 2013). With an unemployment rating in the US at 33%, the labor pool was virtually limitless for MSD, needing millions of workers to begin mining operations on Eros and additional Near Earth Objects, as well as an army of on the ground workers ranging from managers, accountants, mechanics, electricians, and engineers. As the planet's only company with access to the NEOs and their riches, Mariner began expanding into all 50 US states and its various territories; building offices, spaceports, warehouses, and most importantly the infrastructure needed to allow these facilities to operate. These facilites and the infrastructure built to operate them, resulted in a massive surge in the local economies of the regions where these facilities were built, and in turn contributed to rebuilding the nation's economy as a whole. Additionally with trillions of dollars moving in the market once again in raw materials, the stock market saw a resugence in activity, which was also a reflection of the drop in prices of most of the world's resources, leading to cheaper goods and greater demand for those goods. The Space Boom was the largest economic surge in Modern History, and is widely considered to have, "rebuilt capitalism".

The 2050s Boom

Following the cleanup of the Earth Debris field by 2048, mining and manufacturing colony ships returned to Earth for the first time in a decade. After running on skeleton crews from Mars for the last 10 years, the hiring of new workers rebuilt Earth's space industry, and ultimately its whole economy overnight. The 50s boom was also driven by lifting the ban on Molecular replicators on Earth. This allowed home based "fabbers," as they are known, to allow individuals to buy the design of a product on a number of iTunes like market places and simply print them out at home. Fabbers typically range in size from that of an early desktop printer to that of a early 21st century SUV. Much larger fabbers are still used in space for more advanced construction projects.

The Colonial Boom

Shortly following the first manned FTL mission to Nauceanica, a number of other exploration and surveyor missions began to the many worlds of the Earth Sphere (the 50 light year wide area of stars from Sol). Rich in resources, the first colonies on these worlds discovered untapped minerals and riches and began the steady process of mining and refining said minerals. MSD, which had essentially held a monopoly on space based resources by 2030, now found itself in completion with countless new companies in countless systems. Every colonial system had its own company, and soon, the market became so diverse, and so rich with competition that the great markets of humanity exploded with wealth. Where the Space boom had brought gold to the value of lead, the Colonial Boom brought the value of everything, down to next to nothing. Value was determined by the time it took to mine and refine these resources, and nothing more. Products also began to implement this system. And soon, the wealth of humans and its trading allies grew to beyond a first world status, to the Type I status enjoyed by all civilizations of the Earth Sphere. This is what drove the formation of the single interstellar market, the single currency, and a level of economic freedom only dreamed about by people in the early 21st century.

Recessions

The Great Recession

The Crash of 2027

The Second Depression

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