Excerpts from netnews.sci.nanotech: 22-Dec-94 abundance of everything?
by David M. Stoner@atlantis
>Others have written of the incredible abundance of everything which
>nanotechnology promises, and it sounds wonderful, but I keep thinking I
>have heard it somewhere before. Early settlers in North America thought
>its resources were inexhaustible, but its population has grown to fill it.
>Every new technology, every new energy source is hailed as promising an
>unlimited abundance of everything for everybody. Sooner or later, in every
>case, limits are encountered.
Nanotechnology will allow us to make the most efficient use of the resources we do have (both matter and energy), and will certainly aid us in reaching new resources - from deep in the earth's crust or out in the asteroid belt. Rarer materials will be more expensive. Presumably we'll still be respecting property rights, but dealing in smaller and more precise quantities.
The setup of our economy will probably remain the same: you'll still have to pay if you want to buy a product or materials to make a product, but some things will become ridiculously inexpensive. Transportation costs will still apply, as will labor and design costs. The service sector and creative endeavors will probably flourish.
My prediction for societal impact of nanotechnology: society will be similar to today, but material goods will be much cheaper and considerably better in quality. Energy will probably be cheaper to produce and used more efficiently. Many new services and products will become available.
Unlimited abundance is a fantasy, but you can get whatever you're willing to pay for.
Gerry