Project update 10.

Running head: IMPACTS OF NANOTECHNOLOGY 1

IMPACTS OF NANOTECHNOLOGY 2

Social, Cultural, Economic, and Environmental Impacts of Nanotechnology

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University

Social, Cultural, Economic, and Environmental Impacts of Nanotechnology

Introduction

As systems are designed through nanotechnology, the capability to restructure all materials, including synthetic and natural, is developed. In addition, there is rethinking of new prospects of modernizing any and all materials. Such developments in the power to design pose significant impact on social, environmental, cultural, and economic aspects. To back ethical, sustainable, and economic development in nanotechnology, it is vital to provide information about the impact of nanotechnology to various aspects.

Social Impacts

The social impacts of nanotechnology include the possible challenges and benefits resulting from its introduction. The materials and devices used in nanotechnology have significant impact on human interactions. For instance, the application of nanotechnology in medicine, specifically in conducting automated diagnosis, it means that fewer patients will require to be physically evaluated for diagnosis. This, in turn, means that there is reduced time needed to make a diagnosis, less human error, and increased access to medical care facilities (Khan, 2014). If the use of nanotechnology results in an improved life expectancy among the human population, it implies that there will be more elderly people needing health attention. This means that expenditure on health will increase.

Application of nanotechnology may result in new solutions for numerous people especially in developing countries who do not have adequate access to basic services such as reliable energy, water, education, and healthcare among other services. Production through nanotechnology requires little labor, land, or upkeep, resulting in high productivity at low costs due to modest use of energy and materials.

Cultural Impact

The application of nanotechnology on mass media has the effect of changing the cultural beliefs and behaviors of people. With the development of an even more sophisticated nanotechnology, more creations that will alter human interactions are expected. For instance, with the help of nanotechnology, there is a possibility of creating and installing a communications implant on people, making it easy for instant worldwide communication abilities. Such communication would be controlled by thoughts are expected to be very powerful with possibly dangerous concepts. While it has been established that Nano-particles can enter the human body, their effects have not been determined. However, there is a possibility that the particles will get into human systems, move to the brain, and alter neuron connections, thus causing changes in human memories and emotions. This, being brain control, could possibly lead to loss of creativity and personal independence. It could completely change the culture of thinking and creativity by humans.

Economic Impact

Different economies across the globe invest in nanotechnology for different reasons. The reasons may vary depending on the economic and scientific specialization of a country, its social objectives, and competitiveness goals. Some of the reasons for investing in nanotechnology include addressing problems such as environmental issues, public health challenges, supporting competitiveness in the industrial sector, attaining essential knowledge in via basic research, and hastening commercialization of new products and technologies (OECD, 2013).

As early as 2004, sales of nanotechnology products accounted for approximately $13 billion. By 2014, it was estimated that emergent Nano-technological innovations would be incorporated into the manufacture of electronic devices, automobiles, and drugs. Roughly, products manufactured using nanotechnology accounted for about 15 percent of the world’s gross manufacturing output. It is also estimated that for the same period, products involving emergent nanotechnologies comprised about $920 billion in value added, which is approximately 2 percent of world gross domestic product (National Research Council, 2006).

Emerging nanotechnology companies have created many jobs, mostly employing researchers and other qualified personnel. It is projected that the number of jobs created as a result of using nanotechnology will increase as the more sectors embrace the technology. It should be noted that nanotechnology, like any other technology, causes creation as well as destruction of jobs. For instance, the manufacture of Nano-enabled lubricants could reduce vehicle maintenance requirements, thus reducing the demand for auto-services (National Research Council, 2006). In the process, jobs will be lost in vehicle maintenance workshops and more created in factories producing Nano-enabled lubricants.

Environmental Impact of Nanotechnology

Through nanotechnology, the strength of many devices and materials is increased. Further, the technology enhances the effectiveness of devices used in monitoring, helps to remediate environmental pollution and the production of renewable energy. Nanotechnology devices use less energy, minimizes material wastes, and assists in monitoring. It also helps in preventing the harmfulness of nanoparticles in a more effective way (Zhang, H.Misak, Dhanasekaran, Kalla, & Asmatulu, 2011). Potential negative effects of nanotechnology on the environment include increased toxicological contamination of the environment because of uncertainty in size, shape and chemical composition of nanomaterial. Nanoparticles have a bigger surface area compared to bulk materials, thus they can cause more harm to the environment and human body than other bulk materials (Zhang, H.Misak, Dhanasekaran, Kalla, & Asmatulu, 2011).

References "3 Economic Impact." National Research Council. 2006. A Matter of Size: Triennial Review of the National Nanotechnology Initiative. Washington, DC: The National Academies Press. doi: 10.17226/11752. Khan, A. (2014). Ethical and social implications of nanotechnology. Retrieved January 29, 2018, from QScience.com: http://www.qscience.com/doi/pdf/10.5339/qproc.2015.elc2014.57 OECD. (2013). Symposium on Assessing the Economic Impact of Nanotechnology. Retrieved January 29, 2018, from OECD: https://www.oecd.org/sti/nano/Washington%20Symposium%20Report_final.pdf Zhang, B., H.Misak, Dhanasekaran, P., Kalla, D., & Asmatulu, R. (2011). Environmental Impacts of Nanotechnology and Its Products. Proceedings of the 2011 Midwest Section Conference of the American Society for Engineering Education (pp. 1-9). American Society for Engineering Education.

Next update will be Role of technology in human life

Running head:

IMPACTS OF NANOTECHNOLOGY

1

Social, Cultural, Econ

omic, and Environmental Impacts of Nanotechnology

Student

University

Running head: IMPACTS OF NANOTECHNOLOGY 1

Social, Cultural, Economic, and Environmental Impacts of Nanotechnology

Student

University