FACULTY AND RESEARCH

Attention has increasingly shifted towards the long-run perspective on technological innovation, which suggests that progress comes in waves, each one originating with a major breakthrough or general purpose technology (GPT). This paper seeks to assess whether nanotechnology is likely to be (or become) a GPT, a characteristic that other researchers have sometimes assumed though not necessarily documented. Based on a survey of existing literature, this paper will explore the extent to which nanotechnology addresses three primary characteristics of a GPT: pervasiveness, innovation spawning, and scope for improvement. The paper draws on patent and patent citation databases to highlight the types of quantitative and qualitative information that would be necessary, and in some instances is still lacking, to characterize fully the nature of nanotechnology.