Nanotechnology and the Sixth Technological Revolution

Abstract

One ofthe major driving forces, ifnot the major driving force, behind nanotechnol- ogy is economics. The argument that nanotechnology will radically alter the world as we know it is often made by people who stand to profit from the changes. They expect that there will be new winners and losers, and they are trying to be among the winners. In this chapter, Mark Knell reviews the thinking ofevolutionary economists on the relationship between economic inequalities and long waves oftechnological change. According to this line ofthought, when a revolutionary new technology is first introduced it disrupts social relationships, including the institutions developed under the old technological regime for redistribution ofwealth to reduce inequality. Until new institutions are developed that match the new regime, inequality increases. If nanotechnology actually represents a sixth technological revolution—and Knell leaves this question open—societies will have to invent new forms ofredistribution to accompany it.—eds. M.