Space Commerce relates the story of private enterprise's unsteady rise to prominence as a major influence on world space policy and research. The first space race proved the technological and military prowess of the two superpowers; but since the 1970s that contest has been supplanted by a multinational struggle to command the commercial opportunities of space.

The commercial space age was born in 1965 when Early Bird, the first commercial communications satellite, went into orbit. With characteristic ingenuity, American industrialists began to dream of garnering...