The problem with reducing launch costs is there's only a couple ways to really do that. One is to improve existing rocket tech and costs, the way SpaceX and others are doing with privatization. That might help some, but you're not going to get order-of-magnitude or better improvements out of that approach, because the laws of physics and the cost of fuel put big limits on just how cheap you can make launching that way.
The second way is to build a space elevator. Of course, we're still in the phase where people are laughing about it instead of doing it, because the idea seems too far-fetched for morons^H^H^H^H^Hlaypeople, and also because it relies on a material that's extremely new and not yet proven in industrial applications. Even with graphene or carbon nanotubes or whatever, the initial cost will still be extremely high, and you know how short-sighted humans are with economics (they'd rather pay much more over a long term than pay a big up-front cost and spend less over a long term; that's why they get loans for everything and buy subsidized cellphones).
Another way is to follow Newt's idea and build a moon base. (I can't believe I'm defending Newt here; the guy is a scumbag, but just like a stopped clock is correct twice a day, he's right about the moonbase, though I have no idea how he proposes to pay for it since he, like every other non-Paul Republican, wants to maintain giant military expenditures and start a war with Iran to boot.) With a moon base in place that has manufacturing facilities, researchers on Earth would be able to send stuff to their colleagues on the moon base to be manufactured and tested either on-site or in space. The launch cost for anything from the lunar surface would be dirt cheap compared to here, because of 1/6g gravity. Of course, that's only once you have the base in place and fully stocked with equipment, and able to mine and refine materials and energy or fuel from the lunar surface. Getting to that point will probably cost a lot more than building the space elevator (just guessing), but it can be done with present technology mostly, and would have some other additional benefits as far as providing us experience in sustaining human life off-world.
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