Benefits of nanotechnology essay

Lawrence THE HANDLE, which varies in length according to the height of its user, and in some cases is made by that user to his or her specifications, is like most of the other parts of the tool in that it has a name and thus a character of its own. I call it the snath, as do most of us in the UK, though variations include the snathe, the snaithe, the snead, and the sned. Onto the snath are attached two hand grips, adjusted for the height of the user. On the bottom of the snath is a small hole, a rubberized protector, and a metal D-ring with two hex sockets.

Benefits of nanotechnology essay

Attempted relinquishment increases other risks Some of the dangers described here are existential risksthat is, they may threaten the continued existence of humankind.

Others could produce significant Benefits of nanotechnology essay but not cause our extinction. A combination of several risks could exacerbate the seriousness of each; any solution must take into account its effect on other risks. Some of these risks arise from too little regulation, Benefits of nanotechnology essay others from too much regulation.

Several different kinds of regulation will be necessary in several different fields.

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An extreme or knee-jerk response to any of these risks will create fertile ground for other risks. The temptation to impose apparently obvious and simple solutions to problems in isolation must be avoided. Other pages address the possibilities for regulation ; this one is concerned with discussing and analyzing the dangers.

Disruption of the basis of economy is a strong possibility. The purchaser of a manufactured product today is paying for its design, raw materials, the labor and capital of manufacturing, transportation, storage, and sales.

Additional money—usually a fairly low percentage—goes to the owners of all these businesses. If personal nanofactories can produce a wide variety of products when and where they are wanted, most of this effort will become unnecessary. This raises several questions about the nature of a post-nanotech economy.

Will products become cheaper? Will most people retire—or be unemployed? The flexibility of nanofactory manufacturing, and the radical improvement of its products, imply that non-nanotech products will not be able to compete in many areas.

If nanofactory technology is exclusively owned or controlled, will this create the world's biggest monopoly, with extreme potential for abusive anti-competitive practices?

If it is not controlled, will the availability of cheap copies mean that even the designers and brand marketers don't get paid? Much further study is required, but it seems clear that molecular manufacturing could severely disrupt the present economic structure, greatly reducing the value of many material and human resources, including much of our current infrastructure.

Despite utopian post-capitalist hopes, it is unclear whether a workable replacement system could appear in time to prevent the human consequences of massive job displacement. Major investment firms are conscious of potential economic impact.

In the mainstream financial community, there is growing recognition that nanotechnology represents a significant wave of innovation with the potential to restructure the economy. Here, for example, is an excerpt from an analysis prepared for investors by Credit Suisse First Boston: Nanotechnology is a classic, general-purpose technology GPT.

Other GPTs, including steam engines, electricity, and railroads, have been the basis for major economic revolutions. GPTs typically start as fairly crude technologies, with limited uses, but then rapidly spread into new applications.

Benefits of nanotechnology essay

All prior GPTs have led directly to major upheavals in the economy—the process of creative destruction. And nanotechnology may be larger than any of the other GPTs that preceded it. Creative destruction is the process by which a new technology or product provides an entirely new and better solution, resulting in the complete replacement of the original technology or product.

Investors should expect that creative destruction will not only continue, but will also likely accelerate, and nanotechnology will be at the core. What does this mean from a practical standpoint?

Because of the advent of nanotechnology, we believe new companies will displace a high percentage of today's leading companies. The majority of the companies in today's Dow Jones industrials Index are unlikely to be there 20 years from now.

That means tens of trillions of dollars to be spent on everything: And as a result, so will the socio and economic structure of the world. Nanotechnology will shake up just about every business on the planet. By today's commercial standards, products built by nanofactories would be immensely valuable.

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A monopoly would allow the owners of the technology to charge high rates for all products, and make high profits. However, if carried to its logical conclusion, such a practice would deny cheap lifesaving technologies as simple as water filters or mosquito netting to millions of people in desperate need.

Competition will eventually drive prices down, but an early monopoly is likely for several reasons. Due to other risks listed on this page, it is unlikely that a completely unregulated commercial market will be allowed to exist. In any case, the high cost of development will limit the number of competing projects.

Finally, a company that pulls ahead of the pack could use the resulting huge profits to stifle competition by means such as broad enforcement of expansive patents and lobbying for special-interest industry restrictions.

The price of a product usually falls somewhere between its value to the purchaser and its cost to the seller.Fideisms Judaism is the Semitic monotheistic fideist religion based on the Old Testament's ( BCE) rules for the worship of Yahweh by his chosen people, the children of Abraham's son Isaac (c BCE)..

Zoroastrianism is the Persian monotheistic fideist religion founded by Zarathustra (cc BCE) and which teaches that good must be chosen over evil in order to achieve salvation.

Paul Kingsnorth is a writer and poet living in Cumbria, England. He is the author of several books, including the poetry collection Kidland and his fictional debut The Wake, winner of the Gordon Burn Prize and the Bookseller Book of the Year Award.

Kingsnorth is the cofounder and director of the Dark Mountain Project, a network of writers, artists, and thinkers. Aug 31,  · This article is outrageous and despicable. No matter the benefits, it must be left for the individual to decide, not taken from them never to be returned.

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Nanotechnology “Imagine a technology so powerful that it will allow such feats as desktop manufacturing, cellular repair, artificial intelligence, inexpensive space travel, clean and abundant energy, and environmental restoration; a technology so portable that everyone can reap its benefits; a technology so fundamental that it will radically change our economic and political systems; a technology so imminent .

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