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The Pros And Cons Of Nanotechnology

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Nanotechnology is the gateway to near limitless possibilities for the human race. It opens the window to a new realm we previously have never experienced-- Nanotechnology is a branch of engineering that deals with the manipulation of atoms at the molecular level. The Institute of Nanotechnology in the U.K. expresses it as "science and technology where dimensions and tolerances in the range of 0.1 nanometer (nm) to 100 nm play a critical role”. Once automated, the nanoparticles will infiltrate every aspect of our lives- from medical, engineering, biomaterials energy production, to name a few. Practically everything we use today could be replaced by nanomaterial in some way, and it even has the capability to create new materials. …show more content…

Baseball bats, the fizz in carbonated soda, flash memory chips are all examples of nanotechnology usage in work. Building off what we already know, we someday hope to achieve higher energy efficient appliances, nanobots that eat C02 pollutions, and tiny cancer-seeking robots that go into a patient and destroy the cancer cells. Third world countries will no longer be deprived of basic human rights, such as food and clean drinking water; steel buildings, erected in 1/10th the normal time, and at a fraction of the cost- the possibilities are universal and seemingly infinite. (1) But with all the good, we also must endure the inevitable bad- the possibility of disaster from lack of readiness if nanotechnology arrives too soon, possibility of self-replicating weapon creation, rapid employment loss for human workers, the health effects from nanoparticles, and the need for completely new set of ethics to ensure the technology is properly managed. This paper will shallowly explore, in theory, the financial effects that advanced nanotechnology could (either directly or indirectly) impose on our future economy. …show more content…

Overall, theoretical evidence can suggest that the financial stability of the future economy with nanotechnology will be fine. It could make the use of money almost obsolete, or it could drive a much further, deeper wedge between the wealthy and the poor. The above examples are used only in theory, and like all theory, can be disbelieved and disproven. Because we haven’t yet created the advanced technology, we can’t say for sure what the outcome will be. Because of this, there are both strong opposers and supporters, and both have very valid points for their decisions. The slim possibility that nanotechnology would open up a world that we aren’t able to fully control, and thus lose control of, is a very real possibility. It is also worth mentioning that nanotechnology does include the seeds of mass destruction, (7) and that that aspect has not been fully been explored yet. The dangers associated with manipulation at the molecular level are indeed very real, and the potential for disaster is not exactly statistically low-scale. But pushing the boundaries of what is reality and what is science fiction has always driven mankind, and much

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