Over at the Washington Examiner‘s Opinion Zone, I give nanotechnology a Schumpeterian treatment. In the long run, a competitive, cut-throat market process driven by innovation is better for consumers than if government were to fund and direct research:
A nanotech firm that lives mostly off of government grants lives a sheltered, more docile existence. It doesn’t need to come up with new products that save peoples’ lives, or make them better. They just have to be good at getting grants.
Inertia Wins! 