SMALL
is the new big
#3 Will it bridge the gap between the developed and less developed countries?
The attendant effect of control over new developments in the nanotech industry is that of an increasing global sentiment about nanotech’s impact on widening the development gap. In other words, nanotechnology may reinforce global inequalities between developed countries and developed ones. On the one hand, nano-enthusiasts claim that this emerging technology is capable of triggering “a new economic rebirth that combines the dream of material wealth, sustainable development and profit”, thereby benefiting everyone. However, there have been much criticism and skepticism regarding this view. Although nanotech is, at least in theory, capable of being used for the global good, this may be far from the truth due to commercial forces that are purely concerned with profit. Drawing parallels to the Industrial Revolution, nanotechnology may indeed raise the question of a decline in the wellbeing of poor people and widening disparity, due the fact that only those with sufficient financial capability may have access to the technology.
#4 How will nanotechnology affect the economy in future?
There are many countries and analysts who have not hesitated to understand that nanotechnology can become a strategic component essential for the competitiveness of an economic system. In future, one would be able to determine the feasibility and the wealth of nations, organizations and industries through the advancement of nanotechnology.
Ten years ago the U.S. seemed the only one concerned about this issue. Today there is a curious mix of countries in Europe seems behind (despite recent betting referred to in the past Framework Programmers). China, India, Japan, Australia, Israel, Korea, most recently Russia, are part of those countries seem aware of the advantages of focusing on this promising sector.
This could create a second industrial revolution in future. This is the diagnosis of many experts that strive to reveal the scope and impact of nanotechnology in economic activity. The radically innovative supply inputs, automation of complex processes affect the vast majority of industries supply chains, distribution channels, value chains, etc. Obviously this would entail the crisis and disappearance of many traditional productive activities and, in principle, expected time in very small spaces.
Many productive sectors and thus entire countries may experience significant seizures in their economic systems and the need and adopt drastic changes in order to ensure its competitiveness within the demands of a global economy.