July 8, 2012

MORE WEALTH, LESS WORK:

The Sources of the Next American Boom : Nanotech, 3-D printing and other innovations point to a coming golden era, if we can unleash the animal spirits of the market. (MICHAEL S. MALONE, 7/05/12, WSJ)

[W]aiting in the wings for when we get our economic policies in order are a mounting number of stunning discoveries, inventions and technological breakthroughs that could set off a burst of growth and wealth creation as big as any in living memory.

The fracking technology that is making available vast new sources of recoverable oil and natural gas in North America is one such breakthrough. But all across the commercial and industrial landscape, there are exciting developments:

• Nanoculture: One of the truths of tech is that revolutions take longer than predicted, but they arrive sooner than we are prepared for them. That is the case with nanotechnology, the hot new science story of a decade ago.

Though it has largely disappeared from the front pages, nanotech is only now coming into its own. Breakthrough medicines; genetic research; new materials such as graphene (a lattice-sheet form of carbon used for everything from filters to computer chips); molecular electronics (extreme miniaturization, thus super-small sensors and other devices); and quantum computing (small, superfast supercomputers) have all been announced in recent months. Indeed, the range of emerging applications for nano materials is so wide-ranging and important that, together, they suggest an impending turning point in high tech as important as silicon and integrated circuitry were half a century ago.

• Cloud Crowd: In the world of information technology, the big story these days is the shift of data management from largely in-house computing centers to rented, easily scalable computing and storage from anonymous servers located somewhere out in the Internet. Much of this shift, driven by leading providers such as Amazon, is already well under way, rapidly driving down costs and making information management much more affordable both for industry and, increasingly, consumers.

Posted by at July 8, 2012 9:14 AM
  

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