Regulation : threat to converging technologies

Author analyzes two different principles underlying current efforts to regulate nanotechnology that are intended to promote human health and minimize potential health concerns: precautionary principle and internalization of social costs based on cost-benefit analysis While emphasis on the precautionary principle might stunt nanotechnology development by deterring private risk capital investment, emphasis on the latter might lead to unacceptable ethical and societal effects. After explaining these principles and their benefits and drawbacks in relation to nanotechnology regulation, the author proposes some ways to reconcile the differences between these two principles through legislative initiatives.