T
his research on nanotech is based on
the concept of public sector. Nano
industries in the world are usually owned and funded by the government, according to the article. Since the nano research is genuinely expensive and required much more expensive equipment and skilled labours, the government could invest in this field that can drive the economy in the future since they do not solely look for profit and nanotech does not promise a good return. One important quote by Javier Garcia-Martinez, "Financing nanotech ventures is not an easy task as it typically requires a lot of money and long timescales.". (Martinez, 2015) This shows that nano sector requires a high cost and only government could able to afford that high cost. Because nano industries are mostly owned by the government, more jobs are created with over two million jobs in nano industries but low average salary. (Roco, 2006) This could increase the GDP and contribute to its economy with more jobs are being provided. Besides, the government also plays a major role in the development of the public services like health by investing in the nano industries. With the government's control over the nano industries, they could abolish the monopoly companies in the market and monitor the sector carefully so that all the nano companies are using the nano tech. efficiently with the fair price of nano goods.
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NANOTECHNOLOGY
13
Analysis
More Analysis....
ne of the theories
stated by John Keynes
is that the government must step into the market to stimulate economic growth through government spending. This shows that the public sector actually plays a major role in stimulating the country's economic growth through the investment and creating more jobs without leaving the market unregulated. With the government's intervention on the nano industries, it could create artificial demand for nano goods and stabilize the economy. Therefore, the public sector on nanotech is important as it could stimulate the economic growth and provide many
job opportunities.
Nanotechnology in medicine is going to have a major impact on the survival of the human race.
- Bernard Marcus