An interesting post on CRN's blog:

"...so imagine a third world country somewhere in the year 2035, most home industries wiped into oblivion by nanotech minifacs, traditional agriculture wiped into oblivion by cheap biogenetics and superefficient nanotech based agriculture - those people would be without any product in demand, locked away from resources and raw materials, largely incapable of coping because of traditionalist lifestyles..."

Makes me wonder. How long will it take since the first day nanofac is invented to ubiquitous mass production? Will it be enough to buy time. If a moratorium is allowed, international trade can continue for a while to fill the gap on the transitionary phase.

But even with the moratorium, I would expect a rush, capital and financial market fells followed by lay offs triggered by manufacturing companies spreading to other industries. This disruption may cause extreme economic crisis. But I am not an economist. Any ideas on how to prevent it?


ps: blog hiatus until August 11th. I am on vacation.