I have been a big fan of space elevators for years. I believe it will be one of the best ways of moving people and cargo into space economically.
The idea of space elevators has been around for a long time. Although it has only been within the last few years that the scientist believe that with advancements in material technologies like carbon nanotubes, the elevator concept is made possible.
If you don't understand the advantages of a space elevator over conventional rockets. Think of this way, right now it costs about US$10,000 a pound to move cargo into space via the space shuttle. With the space elevator the cost would be reduced to a few hundred dollars to a thousand dollars a pound.
The space elevator would also allow an economical platform for inhabiting other planets such as the moon, Mars, and beyond.
For more information on the space elevator, watch the following video.