Risk Regulation, EU Law and Emerging Technologies: Smother or Smooth?

In this article, the author looks at recent risk analysis decisions of the European Union (EU) in regard to nanotechnology, and accesses its current trend towards adopting the precautionary principle rather then the prevention principle. Rather then looking at the formal definitions of these two theories, the author argues that cultural differences between the EU and the United States cause then to adopt either risk adverse legislation which advocates the prevention of risks before they happen, even in the absence of scientific proof, as in the EU, or legislation that advocates the prevention principle, and seeks to prevent known risks from being realized. Finally, the author looks at the case study of the EU's legislation of nanotechnology and ask the question if this approach based on the precautionary principle is stifling innovation in this field.