Why don’t you go back and look at his actual proposal.
There is money to be made on the moon, which is precisely why the Chinese want to get there. There is not only mineral wealth, but the zero gravity environment can be of great aid in manufacturing certain things. In addition, it’s a stepping stone to other places in space. And who knows what medical and scientific discoveries may come out of this?
Probably people also had the same negative comments about people setting off for the New World or even for the American West. But I think both of those worked out pretty well...
A GOOD LINK from the source linked in the OpEd.
A Rationale for Cislunar Space -- which has to do with economic and national security.
The water on the moon is worth more than gold.
If it was profitable, private investment would do it without the need for massive government subsidies.
It is not, therefore you will only get more crony-capitalist, government funded boondoggles.
A "private" moonbase would be Solyndra x 100.