This paper has four major themes: (1) The concept of lunar‐based astronomy should be taken seriously, in part because of important non‐astronomical factors–in particular the many impending drivers of lunar development such as the current and future levels of space technology, the growing recognition of the Moon as probably the next goal for permanent occupation beyond the Space Station, the Moon’s proximity and consequent relevance toward human exploration and moves out into the Solar System, and the possibility of substantial economic return including even tourism in the reasonably foreseable future. (2) The Moon offers a constellation of factors which make it potentially a uniquely effective site for much of the UV/optical/IR observational astronomy of the future. Since these factors form a part of the background of nearly every paper at this workshop, they are collected here and discuss in brief detail. (3) There are several possible approaches to developing lunar astronomy, with extremes which might be calledevolutionary(beginning with small telescopes) andrevolutionary(beginning with gigantic systems). These approaches are briefly discussed and compared, with the suggestion that we work up toward spectacular goals through a substantial series of dedicated smaller instruments, nearly all of which will retain great value even when the giant systems become available–this is the concept of true lunarobservatoriesrather than just several great instruments. It is the lunar counterpart of Explorer, perhaps even Spartan, missions. (4) Finally, the importance and desirability are stressed of international cooperation in these developments over the next several decades.